The Price Of Housing Rose 6.6% In 2015, According To Registrars

15 February 2016 – Expansion

The price of housing rose 6.6% in 2015, with an increase in sales of 11.2%, to reach 354,538 transactions throughout the year, according to the Real Estate Registration Statistics corresponding to the fourth quarter of last year.

With respect to the third quarter, the value of property increased by 0.9%. This way, the registrars point out that the cumulative decrease in prices since the peak levels of 2007, reaching 28.4% continues to “soften”.

Meanwhile, the home sales inscribed in the property registries in the fourth quarter of the year reached 84,031 transactions, representing an increase by 7.9% over the same quarter of last year.

With respect to the previous three months, transactions fell by 9.4%, showing the traditional seasonality of registrations made in the last quarter of the year, the report adds.

Again, the distinction between new and second-hand homes explains the evolution of housing sales. Thus, second-hand home transactions increased by 39.7% year-on-year, while the number in new homes fell by 36.9%.

For its part, foreign demand reached 14.4% of total sales in the fourth quarter of 2015, with a year-on-year result of 13.2%, which is above the 12,000 quarterly sales and exceeds the 46,000 sales of 2015.

Original story: Expansion

Translation: Aura Ree