Real estate price hikes for Spain in 2018
We wrote earlier that the real estate sector is doing extremely well in Málaga. This is now also reflected in recently published figures on transactions in 2018.
About half a million transactions
According to the National Institute of Statistics, housing transactions in Spain again exceed half a million transactions. This overrun was never observed since the crisis in 2008. According to the Spanish Ministry of Development, the number of transactions could exceed 570,000. Existing houses are the most popular when it comes to sales, but new-build houses are on the rise.
Existing houses are popular
In 2018, the prices of used homes in Spain have risen. Prices have risen 8.4% in the past 12 months to 1,720 euros per square meter. The city of Las Palmas de Gran Canaria has withstood the biggest increase, in fact 21.1 percent. Madrid comes in second place with seventeen percent. Other cities are experiencing a decrease, such as Tarragona with a decrease of 10.9 percent. Prices in Málaga have risen less compared to Las Palmas de Gran Canaria and Madrid, namely by 11.1 percent.
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Source: Idealista.com – Photo: Pexels