Land prices recovering in Spain

SO FAR this year land prices in Spain are continuing with the upward trend reported towards the end of 2014.
Prices of urban land, which hit rock bottom at the beginning of last year and were reported to have fallen by almost 50 per cent since 2007, are showing year-on-year increases, the Ministry of Public Works and Development has confirmed.
Although they fell by 3.7 per cent compared to the final months of 2014, year-on-year comparisons showed figures for the first three months of this year were 5.2 per cent higher.
In big cities with more than 50,000 inhabitants, year-on-year comparisons found urban land prices had increased by 37.8 per cent, reaching an average of €304.3 per square metre.
The highest average prices were registered in Madrid (€546.2 / m2), Barcelona (€448 / m2) and the Balearic Islands (€353.1 / m2) while the lowest were found in Caceres (€148.8 / m2), Pontevedra (€153.3 / m2) and Cantabria (€154.1 / m2).
Altogether 3,465 urban land sales were registered between January and March this year, 4.4 per cent more than the same period in 2014.