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

New-Build Property Sales on the Increase

New construction is booming on the Costa del Sol

Construction is booming on the Costa del Sol

The total number of properties transferred in June reached 191,749, a 2.5% fall when compared to the same month in the previous year.

In terms of property sales, the total number of transactions was 106,051, an annual fall of 1.6%, according to data from the INE.

Of the total sales seen in June, 87.9% were transactions involving urban properties, while 12.1% were for rural properties. In the case of urban sales, 57.9% were sales of homes.

The number of sales of rural properties fell by 6%, when compared to the previous June. Sales of urban properties slowed by 0.9%. Sales of private homes registered a fall of 6.4%.

Of the homes sold in June, 19.4% were new-build Spanish properties, and 80.6% were second-hand properties. The number of new home sales increased by 10.7%, while the number of used home sales fell by 9.7%.

Results by Autonomous Communities

In June, the total number of transferred properties per 100,00 inhabitants reached the highest level in Castilla y León (802), Aragón (790) and La Rioja (688).

The Principality of Asturias (3.0%), Aragón (1.8%) and Andalucía (1.7%) registered the highest annual variation rates.

Meanwhile, the Balearic Islands (–21.9%), Extremadura (–17.3%) and La Rioja (–11.5%) presented the lowest annual rates.

Looking only at home sales, the communities with the highest number of transfers per 100,000 inhabitants were the Valencian Community (225), Murcia (170) and Andalucía (159).

The autonomous communities that presented the highest annual increases in the number of home sales in June were Navarra (5.1%), Principality of Asturias (1.9%) and the Valencian Community (1.1%).

In turn, La Rioja (–20.5%), Cantabria (–18.8%) and Extremadura (–15.8%) registered the greatest decreases.

The Spanish property market remains buoyant. Prices are still rising, and sales figures are high, despite a slight slowdown in used-property sales in June. Booming construction boosting new stock is clear to see in the number of new home sales.