Here you will find news, views, events and information relating to real-estate in Spain.

Urban Land Sales Increased in Last Quarter

Urban land sales increased in Q4
Urban land sales increased in Q4

8.2 million m² of urban land sold in Q4

The number of urban land sales in Spain, the total area and the total value of sales increased in the last quarter of 2017.

However, the average price of a square metre of urban land decreased in the fourth quarter of 2017 to stand at 153 euros. This represents a fall of 10.9% year-on-year. When comparing to the previous quarter the fall is 5.6%, according to the Ministry of Development (Fomento).

In cities with more than 50,000 inhabitants, the average price of a square metre of urban land fell by 8.6% year-on-year, to stand at 274 euros.

The highest average prices within cities of more than 50,000 inhabitants were in the province of Barcelona (€468.9 p/m²), Madrid (€456 p/m²), Valencia (€425.5 p/m²) and the Balearic Islands (€386.2 p/m²).

The lowest prices within cities of more than 50,000 inhabitants were registered in the province of Ourense (€33.9 p/m²), La Rioja (€65.9 p/m²) and the region of Murcia (€86 p/m²).

Land transactions – Surface and Value

The number of urban land transactions made in the fourth quarter of 2017 was 5,845. This marks a 28.6% increase over the previous quarter of 2017, which saw sales numbering 4,545. The number of transactions is also 27.4% more than in the fourth quarter of the previous year, in which 4,589 urban land transactions were registered.

According to the size of the municipality, the transactions are distributed as follows:

  • municipalities with fewer than 1,000 inhabitants – 465 transactions were carried out, 36% more than in Q4, 2016
  • those of between 1,000 and 5,000 inhabitants – 1,172 transactions, representing an increase of 55.4% over Q4, 2016
  • those of between 5,000 and 10,000 inhabitants – 1,106 transactions, 45.3% more than in Q4, 2016
  • those of between 10,000 and 50,000 inhabitants – 1,936 transactions, 29.8% more than in Q4, 2016
  • those with over 50,000 inhabitants – 1,166 transactions, 6% fewer than in the fourth quarter 2016

The total area sold in the fourth quarter of 2017 amounted to 8.2 million square meters, with a total value of 981 million euros. Compared to the fourth quarter of 2016, this represents a 21.6% increase in the surface area, and a 15.2% increase in value.

Andalucia saw the highest number of urban land transactions in 2017, Q4, with 1,264. The area of the land sold amounted to a total of 1,811,600 m². The total value of the land sold was 207.1 million euros. This was the highest number of transactions and highest total area of all Spain’s regions. The total value was beaten only by Madrid (224 million euros).


Málaga Airport Sees Passenger Numbers Rise

Almost a million passengers in February
Málaga Airport Saw Almost a million passengers in February

Almost a million passengers in February

Málaga Airport handled 5.4% more passengers in February and 4.2% more flights than in the same month last year. Almost a million passengers (963,939) passed through on 7,671 flights, according to airport network AENA.

The bulk of the passengers moved on commercial flights. Of these, 785,467 travelled on international flights, representing growth of 2.8%, when compared to February 2017. The number of international flights increased by 0.7%.

The number of passengers travelling between Spanish airports increased by 16.9% (172,436 passengers), while the number of domestic flights increased by 23.5% (1,831 flights).

The UK remained as the main source of international travellers with 257,661 passengers moving between Spain and the UK. Germany (75,025 passengers, 12.9% increase), and the Netherlands (64,782 travellers, 16.9% increase) took second and third places.

Sunday, February 18th, was the busiest day at the airport with both the highest number of passengers and the most flights in a single day. Specifically, 44,378 passengers moved on 333 flight operations on that day.

2018 Growth

February’s growth maintains the positive traffic statistics seen so far this year. In the first two months of 2018, 1,899,094 travellers moved on 15,456 flights. This represents increases of 6.6% and 5.5%, respectively, with respect to the same period of the previous year.

The increases are reproduced in both the domestic and international markets. Málaga Airport registered 1,538,142 passengers (+4.2%) between January and February with 10,922 international flights (+1.1%).

The number of domestic flights has also increased so far this year with 3,817 flights (+24.5%), and a total of 348,924 passengers were handled (+16.1%).

The Costa del Sol continues to attract travellers throughout the year, despite the recent cold, windy and wet weather. These tourist increases, plus the renewed interest in the Spanish property market can only be good news for us all on the coast!


Property Sales Strong Start to 2018

Best January figures for 10 years
Best January property sales figures for 10 years

Best January sales figures for a decade

The Spanish real estate market started 2018 with force with the best January property sales figures for 10 years.

In January there were 176,911 property transfers in the registers, 13.2% more than in the previous January. When looking only at residential, there were 94,060 property sales, a 23.1% increase when compared to last January.

85.4% of purchases registered in January correspond to urban property, and 14.6% to rustic. In the case of urban property, 58.9% are home purchases.

The number of purchases of rural properties increased by 18.9% in January on an annual rate. The number of urban property sales increased by 17.3%.

17.5% of homes sold in January were new and 82.5% used, according to the latest figures from the INE.

The number of new homes sales increased by 23.5%. Sales of second-hand properties increased by 23.0%, when compared to January 2017.

Results by autonomous communities

In January, the total number of transferred properties registered in the property registers per 100,000 inhabitants reaches its highest values ​​in La Rioja (833), Aragón (732) and Castilla y León (713).

Asturias (48.4%), Cantabria (22.6%) and Andalucía (21.7%) have the highest annual variation rates.

Comunidad Foral de Navarra (-1.7%), the Balearic Islands (0.6%) and Cataluña (4.1%) registered the lowest annual rates.

Looking only at residential property, the communities with the highest number of operations per 100,000 inhabitants are Valencia (190), the Balearic Islands (174) and Cantabria (144).

The communities with the highest annual increases in the number of home sales in January are Principado de Asturias (55.7%), Valencia (40.5%) and Región de Murcia (38.8%).

At the other end of the table we see Extremadura (1.3%), Aragón (5.2%), La Rioja and Cataluña (both with 8.2%) recorded the lowest annual variation rates in January.

Fernando Encinar, head of studies at idealista, says “January is usually a good month for sales, but the start of 2018 has been especially positive, both in terms of growth percentage and number of closed transactions; it is the best data since May 2008. The beginning of the year invites optimism to a sector that is strengthening. The fact that the number of operations has grown in all autonomous communities, except in Extremadura, is also a sign of a widespread recovery in demand, although it is taking place at different rates across the country. However, this data should alert us to the need to start building houses in some cities where the supply is reducing considerably due to increased demand. Otherwise price increases could accelerate aggressively”.


New Housing Plan 2018-2021 Approved

Minister for Development, Íñigo de la Serna
Minister for Development, Íñigo de la Serna, approved the new housing plan

Minister of Public Works, Íñigo de la Serna

The Spanish Government has approved the new Housing Plan 2018-2021, which includes aid for tenants and buyers. The effects will be retroactive from January 1st.

According to the Minister of Public Works, Íñigo de la Serna, “it is a plan that tries to satisfy real needs and that is especially focused on young people, the elderly and the most disadvantaged groups, including the suggestions made to us by the Autonomous Communities, City Councils and representatives of the sector “.

Although the plan was presented by Fomento in May of last year, its approval has been delayed for almost a year.

The plan contains different categories of beneficiaries for both rent and purchase and reformation plans: young tenants under 35 and over 65 years of age, evicted families with special conditions, those under 35 years of age interested in buying a home (in rural areas); communities and promoters.


The Ministry of Development says that the new plan will receive 64% more funding than its predecessor. In total, 1,443 million euros will be allocated to the plan, which will be distributed as follows: 350 million in 2018, 357 million in 2019, 364 million in 2020 and 372 million in 2021.

Aid for Tenants

  • People under 35 years of age who earn up to three times IPREM (22,558 euros per year in 14 payments), who do not already own a property in Spain can request a rent subsidy of up to 50% of the monthly rent, to a maximum of 600 euros per month. In cities such as Madrid or Barcelona where rental prices are higher, the upper limit rises to 900 euros per month, but the subsidy is reduced to 30% of the monthly rent for between 601 and 900 euros. The rented property should be the main residence of the tenant for three years.
  • Aid for people over 65 years old. Retired tenants can also benefit from government assistance of up to 50% of the monthly rent, provided that: their assets do not exceed 100,000 euros; they do not own a property in Spain; they do not earn more than three times the IPREM.
  • Aid for those between 35 and 65 years. For the rest of the tenants, regardless of age, the conditions are the same regarding income, up to three times the IPREM, and that they do not own a house in Spain. However, the subsidy has a limit of 40% of the monthly rent provided it does not exceed 600 euros.
  • Aid for evicted families. Those affected by eviction from their habitual residence and eviction from a rental property will also be eligible for grants of up to 400 euros per month, for a period of up to three years. The lease of the property flats may not exceed 400 euros per month, so the subsidy cannot be 100%, depending on the case.
  • Aid for families with special characteristics. For large families, the earning limit for aid benefits is four times the IPREM (up to 30,078 euros per year), as well as families with a member with a disability. The limit is five times the IPREM (37,597.95 euros per year) for special large families (four or more children) and those with members with a severe disability.

Purchase aids: only for young people and in rural municipalities

  • Aid for the purchase of permanent housing is only available for young people under 35 years of age. It consists of a subsidy of 20%, with a limit of 10,800 euros for the purchase, as long as the buyer does not already own a property.
  • However, there are two other general considerations to bear in mind: aid is conditional on the house being located in municipalities with less than 5,000 inhabitants (a measure that is intended to avoid the depopulation of rural areas) and that its price does not exceed 100,000 euros. “This is the only case in which there will be direct aids to the purchase”, stressed de la Serna.
  • They must also continue to meet the income requirements of the family unit: three times the IPREM (22,558 euros / annual in 14 payments) which is increased to four times the IPREM (that is, up to 30,078 euros per year), for large families or those with a member with a disability. The limit increases to five times the IPREM (37,597.95 euros per year) for special large families (four or more children) and those with members with a severe disability. According to property portal idealista, only 51,910 homes meet these requirements, which represents 23.6% of the total housing stock currently on sale on their website.
  • For Fernando Encinar, head of studies at idealista, “this measure is original, but it is not foreseeable that it has effects beyond the populations of 5,000 inhabitants near the large urban centres. I could even suppose that many young people who now live in large cities may choose to move to the towns where they can request aid, facilitating the repopulation of those towns, not in the areas where the Government wants to act but in those closest to Barcelona, Valencia or Madrid, for example”.

Aid for the renovation of properties

In this case, the beneficiaries are both the owners of single-family homes and the communities of collective housing (flats).

  • Aid is available for improving the energy efficiency of the home; the installation of heating systems, refrigeration, production of sanitary hot water or increasing the efficiency of the current system; the establishment of equipment that allows the use of renewable energies; the application of improvements that protect against noise.
  • The aid is 12,000 euros for single-family homes (up by 1,000 euros more if the property is listed as an asset of Cultural Interest (BIC)), and 8,000 euros in the case of flats. The limit will also be 8,000 euros per dwelling, or up to 40% of the investment. The disabled, those over 65 years, and those with incomes less than three times the IPREM, will see that limit rise to 75%.
  • Among the requirements are that the property was built prior to 1996 (the previous Housing Plan was limited to those built prior to 1981, which means there are five million houses with the possibility to request aid), the property is the habitual home of the owner or tenant and that several documents are presented: a Building Evaluation Report or the corresponding updated ITE, the agreement of the community of owners and the description of the actions to be carried out. In addition, the maximum deadlines for carrying out the works are between 12 and 18 months after the municipal license is granted. For houses, for example, it is one year, while for buildings/communities with more than 40 homes, the limit is one and a half years.

Helps for promoters and public bodies to build or renovate housing

Finally, the new housing plan also includes subsidies for all those who build housing for rent, whether private developers or public agencies. There are two types of aid:

  • General aid to build housing for rent. This consists basically of subsidizing up to 300 euros / m² (usable), with a limit of 40% of the investment and up to 31,500 euros per home, provided that the tenant has an income of up to 4.5 times the IPREM and that the maximum rental price be 7 euros per month per m². In the case that the houses are intended for cheaper rentals (for tenants who earn less than three times the IPREM), the aid increases to 350 euros / m² (usable), with a limit of 50% of the investment and up to 36,750 euros for each home, as long as the maximum rental price is 5.5 euros / m² per month. In addition, the houses must be made available for rent for 25 years.
  • If the tenants are elderly or disabled. In the case that the homes for rent or to be rehabilitated are intended for the elderly and people with disabilities that do not already own their home, their income does not exceed five times the IPREM and they have assets below 200,000 euros, public aid to the promoters will be: up to 400 euros / m² (usable), with a limit of up to 40% of the investment. In this case, the mandatory period for allocating these houses for rent to these groups goes up to 40 years.


Residential Property Sales Highest Since 2008

Number of home sales by year

Residential property sales in 2017 showed the best result since 2008 with a total of 532,367 purchases throughout the year. This represents a 16.3% increase when compared to the previous year. Compared to the peak in 2006 (when sales reached 955,186 houses), we are still 44% below the maximum. However, compared to the 2013 minimums (with only 300,568 sales), the market has recovered 77%, according to data from notaries.

The results by province have been positive, except in Lugo (-1.6%) and Ceuta (-2.4%). The greatest increases were recorded in Cuenca (34.2%), Toledo (32.2%), and Albacete (30.5%), which doubled the national average.

Of the large provinces (by population), only Valencia and Madrid are above the national average, with 21.2% and 19.6%, respectively. Malaga (15.3%), Barcelona (14%), Seville (13.6%) and Alicante (12.9%) also showed increases but below the Spanish average.

Number of residential property sales by year

New Property

Looking at transactions by type of housing, there were only 50,398 new property sales. Despite sales of new property barely exceeding fifty thousand, this figure represents the first increase in new home transactions since 2007, with an average increase of 7%.

But, the sale of new property has been very disparate across Spain. While provinces such as Cuenca or Albacete have seen sales figures double for new property, others such as Vizcaya (-35.6%), Soria (-32.5%) or Lleida (-27.1%) finished 2017 with negative results.

The sale of new housing in the most populated provinces grew above the average in Barcelona (30.5%), Alicante (17.7%), Madrid and Malaga (both with 16.6%). However, new housing sales fell in Valencia (-15.2%) and Seville (-21.6%).

Used Property

Used property accounted for more than 90% of total transactions in 2017, with 481,989 used property sales. The number of transactions increased by 17.4% year-on-year, to return to a level not seen since 2006. Toledo, Cantabria and Álava offered the most significant annual growths, with 33%, 30% and 29.7% year-on-year, respectively. Lugo (7.1%), León (7.8%) and Palencia (8.4%) grew the least last year.

Once again looking at the most populated provinces, Valencia (24.4%), Madrid (20%), Seville (18%), Barcelona (12.8%), and Alicante (12.3%) all showed growth but at different rates.

January continues upward trend

The beginning of 2018 maintains the upward trend with which the last year closed. In January, there was an increase of 11.2% with 38,953 transactions. The sale of flats increased by 9.2%, while single-family home sales increased by 19.6%.

Regarding prices, an average square meter in Spain in January was 1,363 euros, a fall of 0.4% year-on-year. “This reduction in the price per square meter of housing was due to the fall in the price per square meter in single-family homes (-1.7%), despite an increase in the cost of flats (1.2%),” said a spokesperson for the General Council of Notaries.

While the number of new mortgages for the purchase of a home increased by 14%, with average capital of 130,182 euros, the figure represents a decrease of 4.2% year-on-year.