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House Sales Back on Upward Track Soaring 13.7% YoY in September

12/11/2014 – Cinco Dias

In September, the number of deals on homes increased 13.7% if compared to the same month 2013. Precisely, 27.024 houses were sold with an enormous jump in pre-owned properties’ popularity, reports the National Institute of Statistics (or the INE by its acronym in Spanish).

This year-on-year rise places the sales performance on the upward path again as August figures showed a 1.1% decline and 23.500 transactions in total.

Data compiled by the INE represents purchase deeds signed in the previous months but entered into property registries in the corresponding month.

Weighting up the month-on-month numbers only, it turns out that from August over September the sales shot up by 14.9%, marking the most acute rise in the last five years.

The year-on-year September increase owes to a 37.3% bumper in existing homes sales seeing 18.068 transactions in the said month. On the contrary, new housing suffered a 15.5% YoY fall and totalled at 8.956 operations.

Big part of the dwellings sold in the ninth month of 2014, 89.2%, refers to unsubsidized properties. This kind of houses were aquired by 13.2% more often than last year, precisely 24.096 times. When it comes to subsidized units, there were 2.928 deals, a 17.7% advance in comparison with September 2013.

In general and year-to-date, house sales in Spain accumulate a little drop of 1.4%, due to a reduced number of transactions on new properties (down 15%). In turn, the second-hand homes watched an increase of 10.2% in regard to the January-September term in 2013. Furthermore, subsidized dwellings sales underperformed 8%, and free market units 0.6%.

 

Original article: Cinco Días (after EP)

Translation: AURA REE