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

Home Sales Increase 4.7% in May

Sales of new homes increased by 9.2%
New home sales increased by 9.2%

Sales of new homes increased by 9.2%

The number of transferred properties written in the property registers (from public deeds) in the month of May is 183,748, which represents a 9.8% increase over the same month of 2017.

Of the total transfers, 93,366 were property sales, representing an annual increase of 4.1%, according to the latest figures from the INE.

Nicolas de Zutter, owner of Marbella For Sale, says “This upward trend has continued for a few years with monthly  and annual increases in sales figures and there seems to be no obvious slow down on the horizon. The question of whether the Spanish real estate market has completely recovered seems to have been answered by recent figures.”

Buying and Selling

86.4% of the purchases registered in May correspond to urban properties, and 13.6% to rural. In the case of urban properties, 58.5% were for home purchases.

The number of purchases of rural properties decreased by 0.6% in May, on the annual rate. Meanwhile, purchases of urban property increased by 4.9%, annually. Within the latter, home sales recorded an annual increase of 4.7%.

The monthly variation in May was 12.3%, which is 26.9 points less than the previous year.

Of all the home sales in May, 17.6% were for new property, while 82.4% were sales of used property. The number of operations on new homes increased by 9.2%, and sales of used property increased by 3.7%, when compared to May 2017.

Results by Autonomous Communities

In May, the total number of transferred properties registered in the property registers per 100,000 inhabitants reached its highest values in La Rioja (906), Castilla y León (755) and Aragón (687).

La Rioja (31.9%), Murcia (30.8%) and Galicia (20.2%) recorded the highest annual variation rates.

On the other hand, Catalonia (-5.1%), the Balearic Islands (-4.5%) and Aragón (-3.6%) present the lowest annual rates.

Looking only at the sale of homes, the communities with the highest number of transactions per 100,000 inhabitants are Valencia (201), La Rioja (166) and the Balearic Islands (156).

The communities with the highest annual increases in the number of home sales in May are La Rioja (53.6%), Foral de Navarra (27.5%) and Murcia (20.0%).

The Balearic Islands (-26.4%), Asturias (-15.1%) and Cantabria (-10.9%) registered the lowest annual variation rates in May.