Spanish Residential Property Sales Rise over 10%
13th August 2018
The number of properties sold in Spain in the first six months of the year reached over 262,000 units, representing a rise of 10.9%, according to the government’s central statistics unit.
Property sales during the month of June rose by 1.8% to 44,692, with the sharpest increase occurring in Aragón (18.1%), Murcia (14.5%) and the Comunidad Valenciana (11.7%). In fact, ten out of Spain’s 17 regions reported increased sales activity. Those that experienced a drop in sales figures included the Balearic Islands (-15.6%), the Canary Islands (-11.8%) and Madrid (-6.9%).
Meanwhile, average Spanish property prices rose by 6.4% in June, compared with the same month last year, representing the highest house price increase in eleven years, according to a report by property valuation firm Tinsa – adding further momentum to the property recovery.
Although monthly sales data can be helpful, it does not give an overall indication of how the well Spanish property recovery is fairing; a better understanding of the market can be found by studying data from the past 12 months and by looking at this we can see a total of 491,000 properties have been sold in Spain – representing a rise of 13.3% and the highest level reached since March 2009, reports newspaper Murcia Today.
Published by David
