June 22, 2017

The best quarter of the real estate sales in Spain

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Real estate sales in Spain are gaining momentum quickly. In the first quarter of this year, 122,787 properties were sold, which is 18.5% more than in the same period last year. In addition, a number of transactions of the purchase and sale of properties in Spain so high have not been registered since the first quarter of 2008, according to the Spanish Ministry of Development. All Spanish regions recorded a growth in real estate sales, with the exception of the Autonomous Community of La Rioja.

During the last twelve months, sales of houses and apartments in Spain, registered by the notary, reached a total of 476,933 transactions, which represents an increase of 13.6% in annual terms. Among the autonomous communities, a notable increase was observed in Aragon (53.5%), Asturias (32.5%), Catalonia (27.6%), Cantabria (26.6%) and Castilla-La Mancha 3%).

Although the national figure as a whole for the first quarter of 2017 exceeded the level of 2009 year, in some regions, such as Madrid, Catalonia and the Balearic Islands, the level has been even higher than in 2008. Therefore, it can be said that these areas are leading the recovery of the Spanish real estate market, as reported by the Ministry of Development.

Regarding the type of residential property in Spain, according to the published data, the objects found in the free market in the first quarter of 2017 were sold in 117,477 cases that represent 95.7% of the total.

Meanwhile, sales of housing in Spain, which is under official state protection, i.e. social real estate, during this period amounted to 5,310 objects, or 4.3% of the total.

As for the typology of residential properties in Spain, the 10,771 transactions were made with the new real estate, that is, 8.8% of the total. At the same time, second hand properties in Spain were subject to 112,016 transactions and their sales amounted to 91.2% of the total.

With regard to the nationality of home and apartment buyers in Spain, the data confirm that foreign residents in Spain recorded an increase in annual terms, the 23rd consecutive quarter, by 17.9% in this case, compared with In the first quarter of 2016, totaling 19,805 transactions.

In general, purchases of property in Spain by foreigners (residents and non-residents) have reached 20,593 transactions, or 16.8% of the total.

Spanish provinces that have registered the largest number of purchases-sales of residential properties in Spain by foreign citizens were Alicante (4,539), Malaga (2,206), Barcelona (1,806), Madrid (1,581), Santa Cruz de Tenerife and the Balearic Islands (1,254).

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