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Housing Market Volume Rises To €32.516 Billion By September, Up 25%

29-12/2014 – Expansión

The Spanish non-subsidized housing market has risen to €32.5 billion between January and September 2014, a 25% increase over the same period last year (€25.99 billion).

The volume of non-subsidized housing has thus stayed on a positive trend until September after three consecutive years of decline, according to data of the Ministry of Public Works, collected by Servimedia.

The €32.5 billion correspond to 240,763 non-subsidized housing transactions that were made throughout the first nine months of the year – 22.6% more than a year earlier.
In particular, second-hand non-subsidized properties moved up to €27.249 billion (a 30.1% increase), whereas the volume corresponding to new housing units was much lower – €5.267 billion (up 4.1%).

Madrid was the region with the largest volume recorded in non-subsidized housing transactions over the first nine months of the year, with €6.234 billion, followed by Andalucía – €5.866 billion, Catalonia – €5.855 billion, and Valencia with €3.934 billion.

Down the list are the Basque Country – €1.588 billion, the Balearic Islands – €1.451 billion, the Canary Islands €1.418 billion, Castilla y León – €1.104 billion, Galicia – €1.018 billion), Castilla-La Mancha – €832.8 million, Murcia – €756.6 million, and Aragon – €708.4.

Meanwhile, the regions with the lowest non-subsidized housing transactions volume were Asturias €438.2 million, Navarra – €375.5, Cantabria – €353.5, Extremadura – €307, La Rioja – €180.8, and Ceuta and Melilla – €91.2, both together.

Original article: Expansión

Translation: Aura REE