Sales of real estate in Spain registered an annual growth of 8.5% during the first five months of this year, according to data from the National Statistics Institute (INE).
More detailed statistics show that the volume of real estate sales during May 2015 increased by 6% compared with the same month in 2014, and have been, therefore, 29,457 transactions recorded in national registers of property. Data for this indicator shows that for the last nine months, sales in the resale real estate market in Spain are rising.
According to the data of transfer of property rights, released this week by the National Statistics Institute (INE), in the first five months of this year the sales of real estate in Spain accumulate an annual growth of 8.5%.
Compared to April this year, an increase is of 8.1% and it is, in turn, the lowest index in the past five years between these two months.
Among the total volume of recorded transactions in May 2015, 78.5% were made with the resale housing, i.e., 23,130 operations and an increase of 34.7%. Therefore, sales of second-hand property in Spain are growing during the last 15 months.
The remaining 21.5% of the transactions were made with the new properties, whose sales fell by 40.4% to 6,327 operations that is only 100 more than in April this year, when the minimum figure was established since 2007.
According to the National Institute of Statistics, the total number of houses and apartments sold in Spain in May 2015 of 26,455 (89.8%) were in free sale, which is 5.6% higher than the previous year; and 3,002 transactions (10.2%) were registered with social properties, which is 9.7% higher than last month.
Among the Spanish regions, the real estate sales rose in thirteen of them, led by Navarra (32.9%), Basque Country (19.3%) and Galicia (18.5%) and decreased in four – in the Canary Islands ( -14%), Castilla-La Mancha (10.9%), Extremadura (-3.2%) and Aragon (-1%).
In the fifth month this year, various types of real estate transactions were registered. Among them the direct sale was the preferred one, whose share increased by 2.8% (62 655), while donations have decreased by 8.6% (3,460), the transfer of inheritance was by 0.5% (31.370) and barter, of 23% (575).
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