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Spanish Home Sales +17% in june 2017

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Spanish Home Sales +17% in june 2017

According to notaries the housing market continues to rise in Spain. In June 2017 51,477 homes were sold, 17% more than in June 2016, according to  statistics published yesterday by the General Council of Notaries. Of these 40,958 are apartments (+ 18%) and 10,519 single-family homes (+ 15%).

Thus, in the first half of 2017, 264,591 homes were sold, 15% more than the 229,097 sold in the first six months of 2016.

Housing prices did not rise at the same rate depending on the type of property. On average, the price per square meter increased 1.4% in a year, as second-hand properties barely rose 1%, compared with a sharp increase of 13% for new homes. The price per square meter of properties sold in Spain was on average at 1,358 euros. But the price of flats reached 1,504 euros, while the price per square meter of single-family homes fell 0.1% to 1,067 euros.

Notaries have reported an increase in the number of mortgages. In June, 23,223 mortgages were signed, 12.9% more than a year ago. In the first half of 2017, 115,201 home mortgages were signed, compared to 101,239 in the first six months of 2016 (+ 14%). In contrast, the average price of these mortgages stood at 129,704 euros, 6% less than a year ago. That amount covered, on average, 76% of the price of the property bought.

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