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November 12, 2013

The number of operations on purchase and sale of real estate in Spain fell

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The number of operations on purchase and sale of real estate in Spain fell

Compared with September 2012, in September 2013 the number of transactions with real estate fell by 8.6 %. So, september was the fifth month in which it was registered a decline in the real estate market activity in Spain.

However, if we consider the average monthly statistics, the number of real estate transactions in September increased by 1.1 % compared with August 2013. Data for the whole year 2013, from January to September, also show an increase in completed transactions, albeit at a slight 0.2 %. The negative figure for September 2013, primarily, is due to lower number of transactions for the purchase of a new property in Spain by 16.9 %.

Total for September 2013 there were 23.808 operations on purchase and sale of real estate, which is 8.6 % less inter-annual indicators, according to official figures released yesterday by the National Statistics Institute of Spain (INE). Thus, continuing the negative trend to reduce the level of activity of the Spanish property market, launched in May 2013, when the number of transactions fell for the first time since 2009, by 3.7 %.

Most of the transactions involved in real property, namely 89.4 % , were with free living quarters, put up for sale by their owners in person or through a real estate agency. Official statistics by month said that in September 2013 was sold at 1.1% of the real estate is more than in August 2013. This figure was the first positive number for the month of September since 2009.

Reducing the total number of real estate transactions was due to the decline of transactions with new objects by 16.9 %, or in other words, there were 10,658 transactions with a new property in Spain. At the same time deals with the secondary Spanish real estate decreased only by 0.6 %, to 13,150 transactions.

Among the Spanish provinces, official figures state the high popularity of Andalucía ( 5,091 operations) , the Valencian Community (3,900 operations) and Catalonia (3,785 operations ) in the number of transactions, as with the new, and with the secondary real estate in Spain.

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