INE: House Sales Increased By 2.1% In March

11 May 2015 – Europa Press

House sales increased by 1.4% in Castilla-La Mancha in March with respect to the same month in 2014, to a total of 1,150 transactions, according to a report published by the National Institute of Statistics (Instituto Nacional de Estadística or INE) on Friday. It stated that the number of house sales per 100,000 inhabitants was 71 during the month in that autonomous community.

In absolute terms, Andalucía continued to lead the ranking in terms of the volume of house sales during the third month of the year, with 5,331 transactions, followed by Cataluña (4,334), Madrid (4,011) and Valencia (3,837).

In relative terms, the regions where the inter-annual rates of house sales increased the most was in Asturias (+39%), Galicia (+18.3%) and Castilla y León (+13.6%), whilst the highest decreases were recorded in the Balearic Islands (-21%), La Rioja (-20%) and Extremadura (-18.8%).

During the same month, the highest number of house sales per 100,000 inhabitants were in Valencia, with 98 and the Balearic Islands, with 87.

Spain as a whole

Nationally, house sales increased by 2.1% during March with respect to the same month in 2014, with 27,280 transactions. The inter-annual increase in March was much more moderate than in February, when house sales increased by more than 15%.

Even so, the indicator succeeded in recording its seventh consecutive inter-annual increase in March, due exclusively to a 32.8% increase in the sale of second-hand homes (20,683 transactions), given that the sale of new homes decreased by 40.9% with respect to March 2014 (6,597 transactions).

The data published by INE corresponds to sales registered in the property records based on public deeds signed in the months preceding the reference month.

During the first quarter of the year, the sale of homes rose by 9%, with a decrease of 35.6% in transactions involving new homes and an increase of 44.6% for second-hand homes.

If we look at the monthly data only (March versus February), the sale of homes decreased by 8.2%, compared with the monthly increase of 3.9% recorded a year earlier.

Most of the homes bought and sold during the third month of the year, specifically 89.7%, were unsubsidised homes. The sale of this type of home increased by 1.4% on an inter-annual basis, to 24,473 transactions, as the number of sales of subsidised homes amounted to 2,807, with an increase of 8% with respect to March 2014.

Total property sold increases by 3.8%

If we add together rural and urban properties (homes and other properties of an urban nature), the total number of property transfers amounted to 143,761 in March, up 3.8% from the same month in 2014.

In terms of sales, 4.2% more properties were transferred than a year earlier, whilst transfers from donations rose by 0.4%. The volume of ‘exchange transactions’ (operaciones por permuta) decreased by 2.6%, whilst the number of properties transferred by inheritance increased by 11% on an inter-annual basis.

According to INE’s data, the number of rural house sales increased by 10.1% in March in inter-annual terms, whilst the number of urban properties sales (which includes homes) increased by 2.9%.

In March, the total number of transferred properties registered in the property records for every 100,000 inhabitants was highest in La Rioja (678), Castilla y León (671) and Castilla-La Mancha (640).

The regions that recorded the highest increases in these transactions were Navarra (+9.9%) and Castilla-La Mancha (+9.7%), whilst the most marked decreases were recorded in Extremadura (-9.4%) and Murcia (-4.4%).

Original story: Europa Press

Translation: Carmel Drake