Ministry Of Development: The Housing Market Moved €36,390M In H1

10 October 2017 – El Mundo

The private housing market in Spain moved €36,390 million during the first half of 2017, which represents an increase of 21% compared to the same period in 2016, when the figure amounted to €30,020 million, according to data published by the Ministry of Development.

In this way, the monetary value of transactions involving private homes in Spain is maintaining the upwards trend seen over the last three years. In 2016, the figure amounted to €60,837 million, which represented the highest level since 2010, but which was still well below that peak (€80,782 million).

The more than €36,000 million that was moved in the residential real estate sector during the first half of 2017 corresponds to 254,816 transactions involving private homes that were bought and sold between January and June, up by 18% in YoY terms. Specifically, second-hand homes moved €32,477.4 million (up by 22%), whilst the volume moved by new build sales was much lower, at €3,912.5 million (+15.2%).

Madrid was the autonomous region that recorded the highest volume of private home transactions between January and June, at €7,803 million. It was followed by Cataluña (€7,451.9 million), Andalucía (€5,849.1 million) and the Community of Valencia (€3,976.4 million). Next in the ranking came the Balearic Islands (€1,988 million), País Vasco (€1,845.7 million), the Canary Islands (€1,662.1 million), Castilla y León (€1,040 million), Galicia (€902.5 million), Castilla-La Mancha (€780 million), Murcia (€702.3 million) and Aragón (€680.2 million).

Meanwhile, the regions where the housing sector moved the least money during H1 2017 were Asturias (€435.9 million), Cantabria (€372.9 million), Navarra (€369.9 million), Extremadura (€266.5 million), La Rioja (€172.9 million) and Ceuta and Melilla (€89.6 million between the two).

Original story: El Mundo

Translation: Carmel Drake