Residential property sales in the Costa Del Sol and Spain continues to
rise for 18 successive months
The upward trend in Spain & Costa Del Sol's residential property sales extends to 18 months in a row as the most up to date data shows a noteworthy increase of 7.3% in residential property sales compared with the same month of 2014.
The figures shown in the analysis report of the General Council of Notaries illustrate a year and a half of ceaseless growth in the Costa Del Sol housing market and conspicuous signs of a stable recovery.
An
analysis of these data shows that annual apartment sales have expanded
by 6.2%, more than twofold the growth recorded in October 2015. The
convincing rise in apartment sales can be traced back to an 8.3% surge
in sales of free price apartments and also to a 12.2% rise in sales of
second hand apartments.
The market for individual family homes in Costa Del Sol
also enjoyed solid development, up 11.4%, recording nine consecutive
months of double figure growth However, the downturn in new housing
sales continued as prices dropped for a tenth month in a row, the
decline rate in November being 18.6%.
Be that as it may, prices are still fluctuating. The average selling price of per square meter of homes saw a 1.1% year on year fall in prices, as prices dropped to €1,219 per square meter in November.
A study suggests that apartment prices declined by 0.6% and the price of single family residences declined by 0.8%.
Be that as it may, prices are still fluctuating. The average selling price of per square meter of homes saw a 1.1% year on year fall in prices, as prices dropped to €1,219 per square meter in November.
A study suggests that apartment prices declined by 0.6% and the price of single family residences declined by 0.8%.
The
data additionally demonstrates that the price per square metre of
second hand flats dropped by 0.7% year on year to €1,320 but for new apartments it steeped by 5.9% to €1,666.
Having experienced an annual increase of 7.3% in November, the total number of new mortgage loans is also on the rise, but when seasonally modified, this figure comes down to an annual increase of 2.4%, the minimum rate of increase in 18 months.
