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Ministry Of Development: House Sales Exceeded €24Bn In H1 2015

28 September 2015 – El Economista

Sales in the market for private housing in Spain amounted to €24,196.6 million during the first half of the year, an increase of 8% with respect to the same period in 2014 (€22,401.6 million).

In this way, during the first half of 2015, the private housing market continued the positive trend that it recovered in 2014, when it reversed three consecutive years of decreases, according to data published by the Ministry of Development.

In total, 181,071 transactions involving private (free-market) homes with a total value of €24,196.6 million were signed between January and June, an increase of 10% compared with the same period in 2014. Specifically, €20,844.3 million changed hands as a result of the sale of second-hand private homes (an increase of 11.6%), whilst €3,352.4 million was exchange from the sale of new build private homes (down by -10.2%).

Madrid was the region that recorded the highest transaction volume involving private homes, with €4,650.6 million. It was followed by Andalucía (€4,443.1 million), Cataluña (€4,372.1 millions) and Valencia (€2,966 million). Next in the ranking were the Balearic Islands (€1,261.4 million), País Vasco (€1,200.6 million), the Canary Islands (€1,069.4 million), Castilla y León (€770.5million), Galicia (€724.5 million), Aragón (€515.9 million), Castilla-La Mancha (€510.9 million) and Murcia (€530.4 million).

Meanwhile, the regions where the least amount of money was exchanged in the private housing sector were: Asturias (€294.8 million), Cantabria (€264.2 million), Navarra (€221.6 million), Extremadura (€181.4 million), La Rioja (€155.3 million) and Ceuta y Melilla (€63.6 million between the two).

Original story: El Economista

Translation: Carmel Drake