Notary data shows slight increase in property transactions in September

The number of property transactions registered by notaries in September was marginally up against 2017, while their value increased by 2.5% on average.

Data published yesterday by the Spanish Association of Notaries points to a very slight year-on-year rise in property transactions across Spain in September, following the extraordinary advances made in August compared to the same month in 2017…

The exact number of transactions registered in September was 41,519, narrowly outstripping the 40,705 contracts signed at the notary last year, representing a small – yet significant, in terms of gross numbers – interannual growth of 0.2%.

Although the sale of apartments declined marginally, almost 5% more detached – or single-family – houses were sold in the ninth month of this year.

In terms of the square metre value of the property that changed hands in the 30-day period, the average percentage increase was more significant at 2.5% compared to September 2017, which in real terms equates to €1,419 per square metre.

Broken down by type of dwelling, the purchase prices of detached houses appreciated by an average of 1.6%, while apartments rose in value by 3%.

Within the category of apartments, prices surged by 5.2% interannually for new builds and 2.5% for second-hand flats, taking their average purchase prices to €2,084 and €1,586 per square metre respectively.

Therefore, despite a monthly drop-off in terms of volume of sales, apartments (especially new builds) are the type of property that most emphatically evidence the consequences of rising home values across Spain.