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).
