Land prices exacerbated its decline and fell by 14.3% in the first quarter: The price of urban land, which represents between 40% and 60% of the total price of homes fell by 14.3% in the first quarter compared to the same period of 2009, reported the Ciampi Group Consultants.
The decline in land prices and intensified its descent from the reductions of 7.5% and 6.5% recorded in the last two quarters of last year, and closed last March by an amount measured 204.7 euros per square meter, CG General Manager Jose Lopez-Esteras Camacho said.
By type of municipality, in the first quarter of a square meter of urban land becomes more expensive only in those with fewer than 1,000 inhabitants, which rose by 8.9% and stood at 83 euros. In the other localities, the declines ranged from 24.6% recorded in the municipalities of over 50,000 inhabitants and from 3.3% fell in the numbering between 1,000 to 5,000 people.[amazon template=image&chan=mio&asin=B006JFXF48]
Thus, at the conclusion of the first quarter of a square meter of land is more expensive is located in the municipalities of over 50,000 inhabitants of the provinces of Madrid (902.4 euros), Vizcaya (817.2 euros), Salamanca (766 euros) and Barcelona (720.9 euros). In contrast, lower prices were registered in localities of the province of Badajoz (131.6 euros) and Cordoba (234.6 euros).
3% spike in transactions: For his part, the number of land transactions recorded in the first three months of the year surged by 3% compared to the same period of 2009 to 5758 added operations, although this figure is lower (6.4%) to 6150 the last quarter of last year. In these transactions, bought and sold 5,5 million square meters of urban land (36.5% less than in January-March 2009), totaling a value of 1010.5 million (60.7% less) Castilla y Leon, Andalucia and Catalonia swept the 57% of all land transactions closed in the first three months of the year, accounting for 25%, 20% and 12% of total transactions, respectively.