Alex Trelinski
HOUSE prices in Spain soared by 9.4% in February compared to a year earlier, according to figures published on Wednesday by the National Statistics Institute(INE).
Some of the biggest percentage increases in sales were in northern and central areas of the country that are not dominated by tourist-based properties.
Average prices per m2 came in at €1,843, while sales rose by an average 10.5% year-on-year in February, accounting for 60,154 properties.
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Home sales grew in 16 regions and only fell in the Canary Islands (-2.6%).
Regions with growth above the national average were: the Basque Country (30.3%), Asturias (27.7%), Extremadura (25.0%), Galicia (21.9%), Castilla y Leon(20.9%), Castile-La Mancha (19%), La Rioja (18.0%), Andalucia (11.4%), and Madrid (10.6%).
Increases below the national average were in Catalunya (9.3%), Cantabria (8.3%), Aragon (7.4%), Murcia (6.9%), Navarre (5.5%), the Balearic Islands (5.1%) and the Valencian Community (1.2%).
Meanwhile, housing prices rose in all 17 regions with double-figure increases in Madrid (19.2%), La Rioja (18.5%), Murcia (16.9%), Castilla-La Mancha (15.7%), Extremadura (14.6%), Cantabria (13.7%), the Canary Islands (12.6%), and Aragon (11.1%).
Increases were also recorded in the Valencian Community (9.4%) while Catalunya (9.3%) was below the national average along with Andalucia (4.1%).
New mortgages boomed in February with some dramatic percentage increases according to the INE.
The national average was 24.2% up on the previous year.
Big increases were logged in Extremadura (47.9%), Asturias (45.9%), La Rioja (39.0%), Cantabria (36.5%), Castilla y Leon (35.0%), Murcia (34.8%), the Canary Islands (34.1%), Castilla-La Mancha (28.9%), Catalunya (28.9%), and Galicia (25.7%).
