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House sales increase in Spain during 2017: study

Xinhua,March 28, 2018 Adjust font size:

MADRID, March 28 (Xinhua) -- House sales in Spain increased by 14.6 percent in 2017 and price rose by 6.2 percent, a study published by the EAE Business School in Spain on Wednesday showed.

According to the study, a total of 464,423 homes were sold in 2017, of which 17.9 percent were newly-built and 82.1 percent were homes previously occupied.

The study predicts a sale of around 100,000 newly constructed homes in 2018, more than that of 2017. But the figure is still well below the 865,561 sold in 2006 on the eve of the economic crisis.

The increase in prices was unevenly distributed throughout the country, with house prices rising by 11.5 percent in the Madrid region in 2017 and 9.6 percent in the Catalan region, while the largely rural areas of Castilla-La Mancha and Extremadura saw prices climb by just 1 percent.

2017 saw banks grant a total of 429,082 mortgages of which 72 percent were in order to purchase a home and the remaining 28 percent for other reasons, such as purchasing garage space, land and property for uses other than living in. Enditem

 

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