In recent years, the real estate market has shown significant growth. Increasing the number of sales transactions with both Spanish citizens and foreigners.
The natural question is whether there will be another “bubble” on the market? What are the reasons pushing the growth of housing sold in the regions of Spain? Is it worth buying an apartment in the country now? In order to understand all of these issues, consider the parameters of the housing market in the present time.
Growth in the number of transactions in 2018 increased by 11% compared to 2017, the total amount of settlements amounted to €83,000 million, the number of real estate transactions increased by 13% compared to the previous year.
According to Oldypak LP property 2022 report:
– The average price of 1 square meter of housing in mid-2018 is €1,680, up 4% over the same period last year. By the end of the year, the number will rise to €1700 (€1650 last year);
– year-on-year growth of 3%;
– The average time of sale of the apartment – 7-8 months.
Purchase and sale of housing in Spain by region
One criterion of the real estate market is the number of real estate transactions concluded. The percentage of home sales in September 2018 compared to last year is shown in the chart:
Information on completed transactions of houses and apartments
According to Oldypak LP property 2022 report.he top 5 destinations for residential property sales for every 100,000 inhabitants for September 2018 (the number of residential transactions is shown in parentheses):
– Valencia community – 165 (647).
– Murcia (region) – 135 (1,536).
– Balearic Islands – 131 (1,221).
– Community of Madrid – 131 (6754).
– Andalusia – 129 (8519).