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September 19, 2014

Sale of real estate in Spain continues to grow

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Sale of real estate in Spain continues to grow

Real estate sales increased by 10.7% in July 2014 and during five months was recorded an increase in sales in Spain. In July 2014 it was recorded 28,583 registered transactions in the real estate register. According to the type of the property in July 2014, 36.7% were new objects and 63.3% – the secondary. Until March of this year, the volume of transactions decreased continuously during ten months, but start with the March 2014 the number of real estate transactions has been steadily growing.

According to official data of the National Statistics Institute (INE), real estate sales increased by 10.7% in July 2014 compared with the same month last year, so there were produced 28,583 transactions registered in the Registry of Property. This figure represents a trend that has been going on for five consecutive months, according to statistics produced by the Institute of Statistics (INE) on the basis of registered in the Registry of property dates and that, therefore, correspond to the operations executed months earlier.

If we compare the interannual data, buying a new property fell by 7.2%, while sales of secondary real estate rose by 24.7%. Until March of this year, the number of transactions decreased continuously for ten months, but in March 2014 there was a change in the trend to the opposite. However, since the beginning of 2014 real estate sales fell by 3.3%. In particular, sales of new properties decreased by 14.1%, while of the secondary – increased by 6.2%.

 Between the regions of Spain, real estate sales have fallen in four and rose in the remaining provinces. At the head of the last stands Asturias, with an annual increase of 47.1%; then Extremadura, with + 43.9%, and Galicia, with + 24.2%. The leader of reducions is La Rioja (12.1%) and Murcia (11.8%).

In July 2014, the total number of registered real estate involved in the registration of property transactions reached 138,628, which is 6.3% less than in the same month in 2013. Among other types of transactions in July 2014 dominated the purchase and sale of residential real estate, which accounted to 60,868 of the total number of operations.

 

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