{"id":3880,"date":"2024-12-24T11:32:29","date_gmt":"2024-12-24T10:32:29","guid":{"rendered":"https:\/\/www.marbellaforsale.com\/blog\/?p=3880"},"modified":"2025-02-03T11:38:39","modified_gmt":"2025-02-03T10:38:39","slug":"november-saw-10-increase-in-property-prices","status":"publish","type":"post","link":"https:\/\/www.marbellaforsale.com\/blog\/november-saw-10-increase-in-property-prices\/","title":{"rendered":"November Saw 10% Increase in Property Prices"},"content":{"rendered":"
\"Sales

Sales of New Property jumped in October<\/p><\/div>\n

In October, the number of properties transfers registered in the property registries reached 231,209.<\/strong> This was 37.7% more than in the same month of 2023, according to figures from the INE<\/a>.<\/p>\n

In the case of registered property sales, the number of transfers was 130,575, showing annual growth of 47.9%<\/strong>.<\/p>\n

87.7% of the registered property sales in October corresponded to urban properties and 12.3% to rural properties. In the case of urban properties, 60.6% were home sales.<\/p>\n

The number of rural property sales increased by 36.8% in October on an annual basis and that of urban properties by 49.6%. Within the latter, home sales registered an annual increase of 51.3%.<\/p>\n

23.4% of the homes transferred by sale in October were new and 76.6% used. The number of transactions on new homes increased by 83.4%<\/strong> compared to October 2023 and that of used homes by 43.6%.<\/p>\n

Autonomous Communities<\/h3>\n

The Principality of Asturias (79.3%), Cantabria (65.8%) and the Basque Country (54.1%) recorded the highest annual rates of change in October in the total number of properties transferred.<\/p>\n

The Autonomous Communities of Navarra (12.6%), Castile and Leon (20.1%) and Extremadura (23.8%) had the lowest annual rates.<\/p>\n

Regarding registered home sales, the autonomous communities that had the highest increases were La Rioja (88.2%), Cantabria (81.3%) and the Principality of Asturias (69.8%). In Andalucia, the variation was 53.8%.<\/p>\n

Navarre (13.9%), the Region of Murcia (28.5%) and Extremadura (35.8%) had the lowest growth.<\/p>\n

Prices<\/h3>\n

The monthly variation of the price of second-hand housing for sale in Spain<\/a> rose by 0.7% and rose by 9.6% in its year-on-year variation, bringing the average price to \u20ac2,380 p\/m\u00b2<\/strong> in November, according to data from Fotocasa<\/a>. This last year-on-year increase (9.6%) is the highest in the last 16 months.<\/p>\n

“The price of housing marks its highest value of the year, close to 10% growth. Second-hand housing is becoming more expensive at a very significant rate. Factors such as population growth, the rise of single-person households, residential tourism and investment interest, together with a favourable economic context and salary improvements, will intensify demand, and therefore the pressure on supply, which will have an impact on prices<\/em>,” explains Mar\u00eda Matos, Director of Studies at Fotocasa.<\/p>\n

Spain has gone from a year-on-year variation of 6.2% in November 2023 to 9.6% detected in the same period in 2024. In the last 12 months analysed, the price of housing has increased by 208 euros per square metre<\/strong>, that is, it has gone from \u20ac2,172 p\/m\u00b2 in November 2023 to \u20ac2,380 p\/m\u00b2 in November 2024.<\/p>\n\t

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