INE: House Sales Increased By 9.6% In January

6 March 2015 – Expansión

House sales increased by 9.6% in January with respect to the same period in 2014, according to data released by INE today.

33,416 house sales were recorded during the first month of 2015. This year-on-year increase is the fifth consecutive rise and was primarily driven by a 50.8% increase in the volume of second-hand home sales, which amounted to 24,413 during the month. By contrast, the sale of new homes decreased by 37.1% compared with January 2014, to just 9,003 transactions, announced the statistical body.

The data shared by INE corresponds to sales recorded in the property registries relating to public deeds signed in the months prior to the month of reference.

If we look at the monthly data only (January 2015 versus December 2014), house sales increased by 28.5%, the lowest rise during this month for the last five years.

Most of the homes sold during the first month of the year, specifically 88.8%, were unsubsidised. The sale of this type of home increased by 10.4% in year-on-year terms to reach 29,667 transactions; meanwhile, there were 3,749 sales involving subsidised homes, an increase of 3.3% with respect to January 2014.

Original story: Expansión

Translation: Carmel Drake

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