Spanish property transactions up 7.7% in May

Residential property transactions in Spain are on the up once again compared to 2017 levels.

Official data from Spain’s notaries reveals that there were 51,896 property transactions across Spain in May, which represents an increase of 7.7% in buying activity compared to the same month last year…

This news follows exceptionally positive reports about property transaction volumes in April, a month that saw Andalucía dominate said activity on a national level.

In terms of the type of property bought, significant percentage increases can be noted in the acquisition of apartments and detached residences across the country over the preceding 12 months. Property in the former category increased 5.6% year-on-year, while detached houses enjoyed a 16.3% interannual spike.

Another notable statistic is the average price per square metre of Spanish residential homes sold in the same period, which marginally rose 0.6% to €1,372 per square metre.

What this means is that home values are continuing their ascent – albeit gradually – and have been higher than the previous year in each of the 20 months since August 2016, according to valuations experts Tinsa.

If you want to know how this affects your property search, get in touch today via our website www.yourviva.com or speak to our friendly VIVA Team on +34 951 27 27 43! Alternatively, leave a message in the comments below…