News: Spanish property sales up by 13.9% in 2016, best figure since 2011

Sales of property in Spain continue to increase. According to data from the Official Association of Property, Mercantile and Personal Property Registrars, sales of homes in Spain grew 13.9% to 403,743 transactions, the best figure in the last five years.

While the number of second-hand property in Spain sold increased by 18.5%, new build property experienced a decrease of 3.2%.Home sales increased in all Spanish regions in 2016 with respect to 2015, with the Balearic Islands (+ 30%), Catalonia (21.1%) and Asturias (17%), leading the growth.

The increase in sales caused the price of housing to go up by 5.7% in 2016.

According to the report, 13.6% of the purchases made in the fourth quarter of last year were made by foreign buyers, who participated in 53,000 operations (+ 13.3%). By nationality, British purchasers (16.4%) top the list, followed by Germany (9.2%), France (8.5%), Sweden (6.4%) and Belgium (6.3%).

In quarter-on-quarter terms, mortgage debt per household declined by 1.9% to € 112,173, while the average amount in 2016 was € 111,656. This represents an increase of 2%.

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