According to the General Council of Notaries of Spain, real estate sales in Q1 increased by 16.2% year on year.
However, housing prices in Spain are not rising but decrease. The average cost per square meter of housing in Spain amounts to €1,241. House prices decreased on 1.6%, apartments - on 5.9%. Thus, the increase in the number of transactions is due to the fact that sellers are forced to make discounts.
A similar trend is observed in the sphere of mortgage lending. The number of issued mortgages increased by 38.3%. The average loan amount decreased by 4.9% and reached €120,125.
The head of one of real estate agencies admitted that weekly his staff removes from the site 40 sold properties. Local firms often compete with each other for the same customers who are looking to buy a home at the lowest price.
Based on the materials of propertywire.com
Photocredit Depositphotos.com