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CNMC: Online RE Business Grew by 22% During H1 2017

5 January 2018 – Eje Prime

The Spanish real estate business soared in terms of e-commerce during the first six months of 2017. From renting a flat to booking a holiday home, the electronic sector is starting to shine in the real estate sector. According to the latest figures published by Spain’s National Markets and Competition Commission (CNMC), the real estate market increased its volume of online business by 22% during the first half of 2017.

Online real estate services, in other words, those offered by companies that operate in Spain under the CNAE corresponding to the Freeland rental of real estate properties, increased in size during the first six months, with a turnover of €55.4 million, compared to €45.4 million during the same period a year earlier.

Focusing on the second quarter of the year, the real estate sector invoiced €32.4 million, the highest figure since the CNMC started to record e-commerce data in Spain. Before that, the record had been set during H1 2016, when the real estate sector recorded a turnover of €26.1 million.

For the time being, the real estate business contributes a tiny part of the total volume moved by the e-commerce sector in Spain, however, whilst small, the trend is very much on the up. Even though in 2016, real estate contributed just 0.35% of the total turnover of this channel, its share has remained stable in recent quarters: in 2015, it amounted to 0.34%, whilst in 2014, the turnover that it contributed represented 0.38% of the total.

During the first half of 2017, that value increased to 0.39%, when the total e-commerce turnover figure in Spain amounted to €14.095 billion.

Original story: Eje Prime (by C. Pareja)

Translation: Carmel Drake