Tuesday, 28 June 2016

Spanish Property Prices up 29% in April

Spanish Property Prices up 29% in April

The Spanish property market is continuing to improve despite the current political problems affecting Spain. The latest figures published Thursday by the Spanish central statistics unit would seem to confirm that the Spanish political situation isn’t affecting the real estate market at all. A total of 35,199 sales were made in April, a 29% rise over April of last year.

Property prices in Spain and the Costa del Sol
have continued to rise.
This total is the number of transactions that were registered in April and as such includes property sales that were finalised in previous months. Even if this is the case it can still be assumed that the data reflects the confidence in the real estate sector after the general election of last year ended with no clear winner. This is also the single highest figure from one month in over five years, except for a rush to finish sales before changes to tax concessions were introduced in 2012. These sales were then reflected in the sales figures for January and February in 2013.

Another encouraging statistic is that the year-to-date sales for the first four months of 2016 show that 134,312 properties have changed hands so far this year, a rise of 13.8% over this period last year. The current twelve month running total stands at 370,793, a rise of 12.7% compared to the end of April 2015.

This rise was felt in all 17 of the Spanish regions. Some performed better than others with a rise of 61.7% seen in the Balerics, a 51.6% rise seen in Galicia, a 46.6% rise in Comunidad Valencia and a 44.2% rise in Murcia. The areas that saw the most overall transactions were the Comunidad Valencia with 138 and the Balerics with 129. Figures of over 100 were also seen in Madrid, La Rioja and significantly in Andalucía. The national average came in at 96 sales per 100,000 people.