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New Houses for Sale in Campoamor Orihuela Costa

Housing sales increases so far in 2016

According to the latest data from the General Council of Notaries, the number of house sales registered an increase of 5.8% last March over the same month of 2015. It is the time to buy property in Spain before prices back to skyrocket.

The annual increase in the number of sales was due to the expansion of home sales floor (+ 4%), the increase in sales of single family homes (+ 13%) and the sale of other real estate (+ 1.2% yoy ).

Increased growth in resale properties.

In the case of the floors, the buying and selling of free price experienced a 5.2% increase compared to March 2015. Within this segment, sales of second-hand flats rose by 8.5% compared to the 18.5% contraction experienced by the purchase of new flats.

Prices rise.

In terms of average price per square meter of the homes purchased in March it stood at 1,261 euros, reflecting an increase of 1.9% yoy, due both to rising single-family homes (+ 7%) and that of housing floor (+ 1.2%). Within floors free price, meter of second-hand stood at 1,361 euros (+ 1.1%) and new flats for 1,678 euros (+ 10.7%).

Other properties.

Meanwhile, sales of other properties stood at 9,262 operations in the third month of the year, representing a growth of 1.2%. Of total operations, 37% were land or solar. The average price of these transactions reached meter (+ 96.8% yoy) 316 euros.

Increases mortgage lending

The sector recorded in March an increase in the number of new mortgage loans granted by 4.2% yoy (7.3% in seasonally adjusted terms) to a total of 29,642 credits. The average amount of mortgage loans amounted to 153,929 euros, with an annual rise of 6.2%.

In the case of mortgage loans for the purchase of a property, their number grew by 16.5% yoy in March, although the figure rises to 17.1% for the purchase of a home and stays 10.4% for other properties.

Regarding capital, the average amount of mortgages for the purchase of a property stood at 134,881 euros in March, 5.9% higher than a year earlier, while mortgage to purchase a home it reached 125,265 euros, with a rise of 2.7% compared to the same month of 2015.

Meanwhile, the number of mortgage loans for construction grew by 2.3% in March, up to 472 credits, with an average amount of 277,491 euros, 7% more.

Barceló Real Estate, a variety of off plan properties in Orihuela Costa

If you are looking for off plan properties in Orihuela Costa, in places like Campoamor, Cabo Roig, Mil Palmeras or Pilar de la Horadada, check out our catalog of properties. Barceló Real Estate is part of the Barceló Group, a firm with over 20 years experience in the real estate sector.

Get in contact with us. You can phone us, send us an email, fill out the form on our website or stop by our offices in Ciudad Quesada.