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H1 2014 Stats: Investment in Real Estate Soars Up 31% YOY

8/10/2014 – El Mundo

Spanish property market goes out of the woods and it is proven by statistics. Accoding to the first half of the year data published by the Ministry of Public Works, unsubsidized housing market set in motion €22.25 billion, by 31% more than during the same period of time in 2013 (€16.97 billion).

The rise is welcomed after three consecutive years of decrease.

Real estate transactions from January throughout June totalled at 164.368 deals.

Existing homes represented an amount of €18.55 billion (35% more year-on-year), while new properties accounted for mere €3.7 billion (14.2% more).

Madrid saw the most considerable proceeds flowing from sold houses during the said six months which amounted to €4.32 billion. Second, there ranked Catalonia (nearly €4.04 billion), third – Andalusia (approx. €3.99 billion) and fourth – the Valencian Community (€2.7 billion).

Furthermore, these three regions were followed by the Basque Country (€1.05 billion), the Canaries (€1.04 billion), the Balearic Islands (€957 million), Castille and Leon (€742.6 million), Galicia (€674.4 million), Castille-La Mancha (€582.8 million), Murcia (€517.2 million) and Aragon (€484.5 million).

On the other side, the smallest total amount was spent on unsubsidized housing in Asturias (€284.3 million), Navarre (€249.5 million), Cantabria (€228.6 million), Extremadura (€207.1 million), La Rioja (€121.1 million) and jointly counted Ceuta and Melilla (€57.4 million).

 

Original article: El Mundo

Translation: AURA REE