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September 29, 2014

The growth of sales of real estate in Spain

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The growth of sales of real estate in Spain

In the period from April to June 2014 in Spain were sold 91.338 houses, which is 12.1% more than a year ago, and so it was the second best quarter since 2010 on sales, according to official data of the Ministry of Development of Spain. This is the second best quarter since 2010. It was sold 15% more of second-hand houses and apartments, while sales of new Spanish properties fell by 1.5%, compared with last year.

Thus, the annual growth of real estate sales, recorded during the second quarter of 2014, is for the Ministry of Development a key indicator as “this quarter is not affected by the abolition of tax exemptions”, as was the case with the previous quarter, when interannual increase was of 12%.

During the last twelve months, the number of registered real estate transactions made in the presence of a notary, was 337,115, representing an increase of 12.2% compared to the number of trades during the entire 2013.

Analyzing the behavior of the last 12 months (July 13 to June 14 to July 12 – June 13), we can see that there are five autonomous regions and two autonomous cities in Spain, where there is a clear positive trend: the Canary Islands, Ceuta and Melilla, Madrid, Catalonia , Balearic Islands and Navarre, with an annual increase in the volume of real estate sales by 12.2%, 9.8%, 9.0%, 2.6%, 2.4% and 0.6%, respectively.

The rest of the autonomous community of Spain continue to record reductions in the number of real estate transactions, although at a much more moderate pace than in previous quarters. Among them are the Community of Valencia, Andalusia and the Basque Country with -2.2%, -2.4% and -8.5%, respectively, and, Asturias, Extremadura and Aragon with a noticeable drop of -17.6%, -17, 5% and -16.7%, respectively.

Among the Spanish provinces, 14 have also registered an annual increase in the number of real estate transactions, including Ceuta (25.8%), Santa Cruz de Tenerife (15.1%), Malaga (12.5%), Guadalajara (10.1%) Las Palmas (9.6%), Madrid (9%) and Barcelona (8.6%).

 

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