Spanish property sales up by 16 per cent in August

More positive data were published on Tuesday morning regarding the Spanish residential property market, with the news that the number of sales and purchases registered during the month of August was 16 per cent higher than in the same month last year at 41,282.

This is the seventh year-on-year increase in the first eight months of 2017, the only exception having been when the figures were distorted by the dates of Easter in April, and further good news is that rises in the amount of activity in August are reported in all seventeen of Spain’s regions. The most significant of these were in Castilla-La Mancha (37.9 per cent), the Comunidad Valenciana (32.5 per cent) and Galicia (23 per cent), while at the other end of the scale was Navarra (1.9 per cent), and the busiest regional markets in terms of the number of sales per 100,000 inhabitants of house-buying age were the Comunidad Valenciana (163) and the Balearic Islands (162).

The continuing upturn in demand for housing in Spain is reflected also in the longer-term data, which show that in the first eight months of this year a total of 315,795 sales have been registered. This is 14 per cent more than at the same point in 2016, and at the same time the running 12-monthly total now stands 13.1 per cent higher than a year ago at 443,483 – as recently as 2014 this indicator was running at under 300,000.

Source: Spanish News Today, October 2017