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January 25, 2017

Therefore it is confirmed that sales are growing during the last ten months.

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Therefore it is confirmed that sales are growing during the last ten months.

In November last year, sales of real estate in Spain grew by 17.3% compared to the same month of 2015, reaching some 33,806 operations, as it was reported by the National Statistics Institute (INE) last week. This increase, which was added to the ten months of consecutive increases, was higher than in October 2016, when the number of transactions increased by 6.5% over the previous year.

At the same time, operations with second-hand properties in Spain increased by 19.8% compared to November 2015 and reached a total of 27,996 operations, while sales of new homes and apartments in Spain increased by 6.8% , namely there was made 5,810 transactions. In addition, during the eleventh month of the previous year, 90.3% of the properties for sale in Spain were free objects, and only 9.7% were under the official protection of the Spanish state.

Beatriz Toribio, the head of the research department at the portal Fotocasa, analyzing the data, said that "this two-digit increase in various statistics on the Spanish housing market is typical for the market that has been paralyzed for many years and is now recovering its activity." Despite this, she also said that "the housing market in Spain is consolidating its moderate growth, albeit very slowly."

Therefore, sales of residential properties in Spain in the first eleven months of 2016 accumulated an increase of 14.2% compared to the same period of 2015, thanks to advances in 18.5% of transactions with second-hand real estate, as the volume of transactions with new homes and apartments in Spain fell by 1.4%. On a monthly basis (November 2016 compared to October of the same year), home sales in Spain increased by 15.1%, which was the largest increase in the last five years.

Toribio also pointed to the existence of a trend, which has been observed in recent months in the Spanish real estate market, namely the development of this sector at two speeds. Therefore, the expert said that "the behavior of prices and sales volume will remain very unequal, with positive changes in Catalonia, Madrid, the Balearic and the Canary Islands, as well as in most of the Mediterranean coast." It is worth remembering, however, that the situation in the real estate market in Spain is not so encouraging in the rest of the country.

In November last year, the highest number of home and apartment sales in Spain with a population of over 100,000 habitants were registered in the Balearic Islands (138), Valencia (133), Andalusia and the Canary Islands (99 in both cases). In addition, Andalusia was the region where most of the transactions with real estate in Spain were signed in the eleventh month of the previous year, with 6,541 sales and purchases. It is followed by Catalonia (5,476), Valencia (5,216) and Madrid (4,563).

Meanwhile, the communities in which there were registered fewer transactions of sales of apartments and houses in Spain were La Rioja (233), Navarra (363) and Cantabria (440). In relative terms, the regions with the highest annual rates of change in real estate sales were the Balearic Islands (+32.8%), the Canary Islands (+26.3%) and Aragon (+25.8%).

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