PROFITABLE: New-build properties registered a price increase of 18 per cent

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PROPERTIES: New builds see sharp price increase. Photo: Shutterstock


ACCORDING to figures published by the Notaries Centre for Statistical Information, a total of 40,388 property purchases were completed in January this year, which is an increase of 0.3 per cent for the same month in 2018.

While the number of transactions increased only marginally from last year, house prices went up slightly more, at 2.6 per cent more than 12 months ago. The average price of property is now valued at €1,424 per square metre, as calculated by the General Council of Notaries.

Types of property

On a year-upon-year basis, the number of detached family homes sold in January increased by a substantial 6.6 per cent, but sales of apartments fell 1.3 per cent from last year.

Prices

While the average price of a property per square metre registered at €1,424 per square metre in January and an increase of 2.6 per cent, this was attributed almost equally to both detached properties and apartments registered higher prices than last year, with increases of 4.1 and 2.7 per cent respectively.

New builds, naturally, are more expensive than resales, and the former saw the average price per square metre at €2,186, with resale prices of €1,555. According to these figures, the price of a new build has gone up 18.5 per cent in the last 12 months, with the price of resales showing an increase of just 1 per cent.

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