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Posted by Caroline Ketley on January 26, 2016

According to data published by the General Council of Notaries, buying and selling transactions that took place during the third quarter of 2015 went up by a massive 14.7% from the previous year, although the increase in operations from the second quarter was more moderate.

The professional body also registered a rise in the average price of a property per square metre, which went up 2.7% from 2014, yet also slightly less from the second quarter of last year.

In fact, average house prices increased in 11 regions and fell in the remaining six.

While statistics have shown that figures for 2015 are much more positive than the previous year, the results for each quarter of the last 12 months are actually more indicative of the fact that the situation is returning to normality and becoming more consolidated.

While rises are being registered in each region, they are becoming more moderate each time, and that’s for both the increase in property prices (not in every region) and the number of property transactions that have taken place.

With regards to the months of July to September of 2015, the number of property purchases rose annually by an average of 14.7%.

However, seven regions recorded figures above this average:

  • Murcia: 40.4%
  • La Rioja: 34.1%
  • Cantabria: 29.4%
  • Canary Islands: 22.6%
  • Cataluña: 19.3%
  • Aragón: 17.7%
  • Basque Country: 16.6%

The only region in which the number of property transactions fell from the previous year is Navarra (-25.7%).

On the other hand, the average price of a property per square metre rose 2.7% from the third quarter of 2014. But this was actually less than the increase registered during the second quarter of 2015 of 3.6%.

Prices went up the most in the following regions during this quarter:

  • Galicia: 13.3%
  • Balearic Islands: 9.3%
  • Canary Islands: 6.7%

And, while house prices rose in 11 of Spain’s autonomous regions, the biggest drops from the remaining six were registered in:

  • La Rioja: -10.6%
  • Navarra: -16.4%

Prices also fell, but to a lesser extent in Extremadura, Basque Country, Murcia and Castilla y León.

The number of mortgages taken out went up in every single region apart from Navarra, with 53% of them concentrated in Madrid, Andalucía and Cataluña.

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