Here you will find news, views, events and information relating to real-estate in Spain.

Home Sales in Spain Slow in February

Andalusia saw 8,882 home sales in February
Andalusia saw 8,882 home sales in February

Andalusia saw 8,882 home sales in February

In February 2020 there were 89,710 property sales registered in the public records. This represents a fall of 1.1% when compared to February 2019. When compared to the previous month the variation is -0.5%, according to figures released by the INE.

In terms of home sales, there was 44,104 registered sales recorded in the registers. This represents an increase of 0.1% when compared to a year ago. However, when compared to the previous month the variation in property sales was negative at -6%.

Results by autonomous communities

In February, the total number of transferred properties recorded in the property registers per 100,000 inhabitants reached its highest values in La Rioja (890), Valencia (733) and Murcia (726).

Meanwhile, Murcia (59.9%), Valencia (22.7%) and Galicia (15.5%) registered the highest annual variation rates. In turn, Comunidad Foral de Navarra (–29.7%), Castilla – La Mancha (–26.7%) and the Basque Country (–21.5%) presented the lowest annual rates.

In terms of registered home sales, the communities with the highest number of transfers per 100,000 inhabitants are Valencia (165), Andalusia (134) and Cantabria (133).

The communities with the largest annual increases in the number of sales of homes in February are Aragón (12.7%), the Balearic Islands (8.2%) and Andalusia (8%). In Andalusia, there were 8,882 home sales in February.

For their part, La Rioja (–36.4%), the Basque Country (–20.7%) and Extremadura (–6.6%) registered the greatest decreases.

These results represent the most accurate figures we will likely see for a few months. Given that March and April have been spent on total lockdown due to COVID-19, it is unlikely that any sales will be registered at all throughout those months and therefore there will be little point in looking at, let alone comparing, figures from those months.

Let us just hope that once lockdown is lifted we see life return to the property market!