Spanish property prices soar
According to data released by the Ministry of Development and the National Statistics Institute, 134,705 homes were sold in Spain in the first three months of 2018, an annual increase of 7.97% compared to the same quarter a year earlier. Of these sales, 16.67% were to international buyers. Although British buyers remain the largest group of foreign buyers, investors from the Nordic countries and Belgium are not far behind.
In April, mortgage approvals increased by 34% compared to the same period last year, the National Statistics Institute said. The average mortgage price jumped by 9.1% to €123,256. Overall, banks are lending €3.54 billion to homebuyers, up 46.5% from a year earlier. The region with the most mortgage approvals (6,018) was Madrid, followed by Andalusia with 5,154 and Catalonia with 4,700 mortgages.
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