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Home Sales Fell 11% in October

Sales of new homes increased by 0.8%

Sales of new homes increased by 0.8%

The total number of transferred properties registered in the property registries in the month of October was 167,771, which is 0.8% less than in the same month of 2022.

In the case of purchases and sales of registered properties, the number of transfers is 88,530, showing an annual decrease of 6.4%, according to the latest figures released by the INE.

86.7% of the sales registered in October correspond to urban properties and 13.3% to rural properties. In the case of urban property, 59.8% were home sales.

The number of purchases and sales of rural properties increased by 0.5% in October on the annual rate, while that of urban properties decreased by 7.3%. Within the latter, home sales registered an annual decrease of 11.1%.

19.3% of the homes sold in October were new build properties while 80.7% were second hand.

The number of sales of new homes increased by 0.8% compared to October 2022, while that of used homes decreased by 13.5%.

Results by Autonomous Communities

In the month of October, the total number of transferred properties registered in the property registries per 100,000 inhabitants reached its highest values in Castilla y León (798), La Rioja (658) and Aragón (617).

The Community Navarra (17.9%), Extremadura (15.3%) and Galicia (13.3%) recorded the highest annual variation rates.

The Balearic Islands (–20.4%), Cantabria (–19.2%) and the Principality of Asturias (–13.4%) presented the lowest annual rates.

Looking at registered home sales, the communities with the highest number of transmissions per 100,000 inhabitants were Valencian Community (172), Region of Murcia (150) and Andalusia (130).

Goodbye 2023!

That’s all from us for 2023. We would like to extend our thanks to you all for taking the time to visit our blog to keep up to date with the latest Spanish property news. We would also like to thank all our clients who bought or sold a property with us throughout 2023. We wish you happiness in your new homes!

The whole team send you all the best for the holiday season and a happy and prosperous 2024. We’ll see you on the other side.

Best wishes from everyone at Marbella For Sale.