Spanish notary data records property price and transaction increases for September

In September this year, Spain recorded yet another steady rise in home sales and home values, according to notary data.

Spain’s notaries publish monthly data on the state of the country’s property industry, providing a valuable and regular health check.

The news from September is, quite simply, more of the same: steady growth, increasing prices and the continued recovery of the new build sector…

Spain’s notaries recorded 16,466 new mortgages signed in September, which represents an 8.2% increase on the same month last year. The typical price paid for a property in Spain that month was also slightly higher than last year, rising 2.4% to €1,331 per square metre.

Interestingly, the average loan capital, ie, the typical mortgage amount taken out, was only 1.8% higher than last year at €130,300, which suggests that more and more buyers are able to save up a larger deposit as the wider Spanish economy has recovered.

However, the increase in the average mortgage value recorded in September represented the sixth time in eight months that the typical loan amount has increased month-on-month, reflecting a wider trend of bank and consumer confidence.

The notaries also calculated that 41.1% of all properties bought in September were financed with a mortgage, and of those homes purchased this way, the mortgage value amounted to 75.7% of the purchase price. This means that a typical buyer in Spain currently has to find a deposit of around 25% of a home’s value.