Notaries register record rise in real estate transactions in Spain

In February, property sales jumped by 22.9% year-on-year, while the price per square metre rose by only 0.6% to €1,230. According to the General Council of Notaries, in February 2016, the largest number of transactions took place on the secondary market – 23,000, which is 25.9% more than a year earlier. On the primary market, 2,340 transactions were registered, 5.1% less than in 2015. The average price per square metre of villas in Spain was €1,000 (+3.8%), apartments – €1,350 (+0.6%), new apartments – €1,620 (+0.3%). The Spanish property market is gradually recovering . Further evidence of this is the rapid growth in the number of approved mortgages. The number of loans jumped by 34.7% in a year, with the average amount buyers took out from the bank reaching €119,000.