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April 14, 2016

Property sales in Spain reached its best indicator

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Property sales in Spain reached its best indicator

The number of transactions with real estate in Spain increased by 15.8% year on year in February 2016, and therefore has come back a positive trend after a decline recorded in January, when some 34,771 transactions were made. These data have become the best indicator of buying and selling properties in Spain since February 2013. According to the National Statistics Institute (INE), in particular, sales of resale houses and apartments in Spain (26,941 operations) have led to such statistics, which have not been registered since April 2008.

In addition, the February data are in contrast with a January reduction in the number of transactions with real estate in Spain by 2.9% in annual terms, which ended a series of 16 consecutive months with positive rates. According to the National Statistics Institute (INE), which uses the data recorded in the Property Registers of the country, the second month of the year closed with 34.771 real estate transactions, which is 15.8% more than in February 2015, which is the best figure in the last three years. In February 2013 some 35,535 transactions with real estate in Spain was recorded.

Sales in the secondary market amounted to 77.5% of the total, i.e., about 26,941 transactions recorded in February 2016, thus reaching the highest level since April 2008, and an increase by 21.4 % according to the annual statistics. At the same time, transactions with new homes and apartments in Spain fell by 0.2% during the year, although this is the best indicator since last year. The INE statistics are based on transactions that have been signed in the presence of a notary two or three months ago.

By regions, the INE provides the following data: the top three by the number of transactions with real estate in Spain are occupied by Basque Country (50.3%), Asturias (40.0%) and Cantabria (38.9 %). In addition, these three autonomies have recorded the highest annual growth rates. Madrid, with more than 10,330 real estate transactions and an increase by 3.1%, while Catalonia has managed to increase the volume of real estate sales by 12.6% to 10,794 operations. Moreover, La Rioja (-8.6%) and Castilla y León (-3.9%) were the only regions that showed a negative trend in annual sales of properties in Spain

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