Home Sales in Spain Increased by 11.1% in 2015
February 11th, 2016
The latest Transfer of Property Rights statistics released by the National Statistics Institute show that home sales in Spain rose by 11.1% in 2015, over the previous year, reaching a total of 354,132 transactions. This marks a second consecutive year of increases which, according to the Institute’s data, has been driven by the second hand housing market, and is the best figure recorded since 2011.
Last year in December, sales rose by 6.8% year-on-year, accumulating 16 months of increases, although, compared with November, they registered a decline of 3.9%.
In 2015, some 276,267 transactions were carried out on second hand homes in Spain, representing 78% of all the home sales transactions carried out in the year, and a year-on-year increase of 37.2%. In contrast, sales of new homes dropped by 33.7%, to just 77,865 transactions, accumulating five consecutive years of declines.
89.8% of all the homes sold last year, amounting to 318,055 transactions, were free housing, which represents an increase of 11.1% over 2014, while sales of subsidised housing rose by 10.8% year-on-year, reaching a total of 36,077 transactions (10.2% of the total), following several years of declines.
The largest number of home sales per 100,000 inhabitants in 2015, were recorded in Valencia (1,322 transactions) and the Balearic Islands (1,177), while the region to register most housing transactions last year, in absolute terms, was Andalucía, with a total of 70,739, followed by Catalonia (54,571), Valencia (51,788) and Madrid (50,373).
In contrast, the regions which registered the least housing transactions in 2015 were La Rioja (2,561), Castilla y León (4,298) and Navarra (4,313).
In relative terms, home sales transactions rose in all regions in 2015, except for Navarra, where they registered a decline of 1.7%. The regions where these housing transactions increased most were the Basque Country (+17.2%) and Aragón(+16.6%).
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