Average house prices rose 4.6% in Q1
There was an increase in housing sales in most of Spain’s autonomous communities in the first quarter of 2017. This is according to the latest figures released by the National Council of Notaries.
In the first quarter, the sale of housing saw average national growth of 19.2% year-on-year. All the autonomous communities saw growth except for La Rioja (-5.7%).
The largest growth was seen in Aragon (45.6%) and Castilla-La Mancha (30.9%). Also registering significant growth were Extremadura (25.2%), Asturias (24.7%), Cantabria (24.6%), Catalonia (24.2%) and Madrid (22.8%).
Still positive, yet with more moderate growth were Murcia (5.4%), the Canary Islands (9.3%) and Galicia (13.6%).
Basque Country Most Expensive
Average national prices per m² grew by 4.6% year-on-year in Q1, reaching an average of 1,356€. This figure was largely surpassed in the Basque Country (2,114€), the Balearic Islands (2,037€), Madrid (1,997€), Catalonia (1,653€) and the Canary Islands (1,467€).
Several communities saw the average price fall: La Rioja (-15.5%), Castilla-La Mancha (-10.9%), Extremadura (-5.6%), Basque Country (-3.6%), the Balearic Islands (-3.3%), Navarre (-1.4%) and Andalusia (-0.1%).
However, Aragón (17.8%), followed by Castilla y León (12.1%) and the Canary Islands (11.0%), saw a significant increase in their average prices.
The sale of flats showed Q1 year-on-year growth of 20.5% at the national level. Several communities saw growth above the national average. Increases were recorded in Aragon (48.6%), Extremadura (33.1%), Castilla-La Mancha (32.4%), Asturias (29.7%) and Cantabria (26.7%).
Meanwhile, the average price of flats sold per m² registered an average national increase of 5.3%. By communities, however, there is disparity. The Canary Islands (15.6%), Aragon (13.2%), Castile and Leon (11.9%) and Catalonia (10.1%) all increased their prices. However, eight communities saw prices fall with the most significant decreases seen in La Rioja (-15.5%) and Extremadura (-8.7%).
Marbella
In the municipality of Marbella, there were 1,003 housing sales in the first quarter of 2017. This is exactly 70 more than in the first quarter of 2016.
When looking at Malaga, we see the average value of home sales in Q1 stood at 162,717.2€, slightly lower than in the first quarter of 2016 when the average stood at 168,554.8€.
The total value of property purchases in Malaga in Q1 amounted to 1.2 billion euros, slightly above the same period in 2016 when it was a little over 1 billion.
