29 May 2018 – Idealista
The housing market in Spain is moving increasingly higher volumes of money, boosted by the improvement in the economy and the increase in prices in the real estate sector.
According to data from the Ministry of Development, last year, private home sales amounted to €73.849 billion, a figure that exceeds the amount recorded a year earlier by 21%, and which represents the highest volume since 2010 (when sales worth more than €80.6 billion were recorded). In fact, the number doubles the figure recorded in 2013, the ‘annus horribilis’ for the sector, when less than €38.1 billion was registered.
Those almost €74 billion were transacted through the completion of more than 532,000 real estate operations, a data that far exceeds the 458,000 sales registered in 2016 and the 300,500 in 2013.
The second-hand segment was the star of the sector (second-hand homes account for more than 80% of operations), whilst Madrid was the region that accounted for the greatest volume of house transactions (by sales value), followed by Cataluña
Original story: Idealista
Translation: Carmel Drake