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Sales of properties in Spain rises 9.9% in February year-on-year

According the latest information provided by the Consejo General del Notariado, last month of February were closed the sale of 38,176 properties in Spain. This figure represents an inter-annual increase of 9.9% and it is another reason to consider that definitely the situation of the property market in Spain is improving.

Also, the average price per square meter of homes sold was 1,305 euros (a yearly increase of 2.5%). Likewise, home loans also grew 2.5% year-on-year, being the average capital of 125,445 euros. In this regard, the increase in the amount of loans has just arose by 0.6% and shows that the properties with a competitive price are the most demanded. The offer of bargains and properties from bank repositions still being important.

Most of the property sales closed in February was carried out by resale flats, which grew 14.5%, while new flats fell by 1.7% year-on-year.

The rise in housing prices was due mainly to the 2.6% increase in the price of flats and to the increase in the price of single-family homes (1.9% year-on-year). The price per square meter of resale flats stood at 1,426 euros and new flats at 1,809 euros, which means a year-on-year increase of 8.7%.

Source: Consejo General del Notariado.

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