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Spanish home sales up 17% in October as Catalonia rebounds

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The number of Spanish home sales inscribed in the Land Registry in October rose by 17% compared to the same month last year, show the latest figures from the National Institute of Statistics (INE).

There were 39,600 Spanish home sales inscribed in the Land Register in September, and 43,536 if you include subsidised homes (known as VPO), all according to the latest figures from the INE, based on source data from the Spanish Land Registrars’ Association.

New home sales were up 15% to 7,971 and resales up 17% to 43,536. New home sales don’t include off-plan sales, which will only show up in these figures after the homes are delivered.

Sales growth was particularly strong in Murcia, up 53%, and Seville province, up 50%. Growth was also strong across the board in Catalonia, and Barcelona in particular (+31%), as buyers shrugged of worries about the Catalan independence drive that depressed sales in October last year. The only regions where sales fell were in the Canary and Balearic Islands, where a shortage of homes for sale in the latter region is bound to be a party of the story.

So demand for homes in Spain continues to grow robustly as we head into the last quarter of the year.

Source: Spanish Property Insights, Dec 2018.

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