Residential Sales Exceeded €51,852M In Total In 2015

14 March 2016 – Expansión

In this way, the amount of funds changing hands in the market for unsubsidised housing in 2015 continued the positive trend that it recovered in 2014, the year that saw the end of three consecutive years of decreases.

In the market for unsubsidised homes in Spain, €51,853.6 million changed hands in 2015, which represented an increase of 10.3% compared with the previous year (€47,022.1 million).

In addition, investment in housing returned to its 2011 levels, when €50,924.4 million was moved in the market and recorded the highest figure since 2010,when €80,782.2 million changed hands. The figure of €51,852.6 million corresponds to 382,691 transactions involving unsubsidised homes that were closed in 2015, up by 10.2% compared with a year earlier (347,170).

Specifically, sales involving second-hand unsubsidised homes amounted to €44,842.9 million (up by 12.9%), whilst sales involving new build homes were significantly lower, amounting to just €7,010.7 million (down by -3.8%).

Madrid was the region where the highest volume of transactions involving unsubsidised homes was recorded in 2015, with €10,103 million. Next in the ranking came Andalucía (€9,130.2 million), Cataluña (€9,387.9 million) and Valencia (€6,180.7 million).

Those regions were followed by the Balearic Islands (€2,857 million), País Vasco (€2,783.1 million), the Canary Islands (€2,217.4 million), Castilla y León (€1,616.4 million), Galicia (€1,514 million), Murcia (€1,188.8 million), Aragón (€1,178.7 million) and Castilla-La Mancha (€1,078.6 million).

Meanwhile, the regions where least money changed hands in the unsubsidised housing sector were: Asturias (€641.8 million), Cantabria (€590 million), Navarra (€527.6 million), Extremadura (€425.7 million), La Rioja (€299.7 million) and Ceuta and Melilla (€132.8 million between the two).

Original story: Expansión

Translation: Carmel Drake

INE: House Sales Rise For 9th Consecutive Month

9 July 2015 – El Mundo

House sales are continuing to rise.

In May, for the ninth consecutive month, the number of transactions increased by 6% with respect to the same period in 2014, driven by the second-hand market, according to the National Institute of Statistics (Instituto Nacional de Estadística or INE). In total, 29,457 transactions were closed during the fifth month of the year.

With the recovery in May (which was three points lower than the variation in April (9.4%)), house sales recorded their ninth consecutive inter-annual increase, thanks exclusively to a 34.7% increase in the sale of second-hand homes, to 23,130 transactions. By contrast, the sale of new homes decreased by 40.4% with respect to May 2014, to 6,327 transactions. During the first five months of the year, house sales have accumulated an increase of 8.5%, with a 37.3% decrease in the sale of new homes and a 42.6% increase in the sale of second-hand homes.

If we look at the monthly data (May versus April), house sales rose by 8.1%; the lowest increase during that month for five years. Most of the homes sold, specifically 89.9%, were “free” (unsubsidised) homes. Sales of that type increased by 5.6% in inter-annual terms, to 26,455 transactions; during the same period, sales of “social housing” (subsidised) homes amounted to 3,002 – an increase of 9.7% with respect to May 2014.

Navarra experienced the largest increase

The largest increase in the number of house sales per 100,000 inhabitants was recorded in Valencia (116) and Navarra (98). In absolute terms, Andalucía led the house sale ranking, with 6,162 transactions, followed by Valencia (4,533), Cataluña (4,388) and Madrid (3,810).

In relative terms, by autonomous regions, the inter-annual rate of house sales increased the most in: Navarra (32.9%), País Vacco (19.3%) and Galicia (18.5%); whilst the largest decreases were recorded in the Canary Islands (-14%) and Castilla-La Mancha (-10.9%).

Original story: El Mundo

Translation: Carmel Drake

INE: House Sales Increased By 15.7% In December

10 February 2015 – Expansión

Sales of second hand homes drove overall house sales to increase by 2.2% in 2014, with respect to the previous year, to reach 319,389 transactions, resulting in a return to positive growth after three years of decline.

House sales rose by 2.2% in 2014 after three years of decline, thanks to a boost from second hand properties, according to the provisional data published today by the National Institute of Statistics (Instituto Nacional de Estadística or INE) regarding the Statistics on the Transfer of Property Rights (Estadística de Transmisiones de Derechoes de la Propiedad or ETDP).

The second hand market was the driver behind this annual growth, the first positive trend since 2010, when house sales grew by just over 6%. That year represented a respite for the real estate market, which had been hit hard by the economic downturn.

The increase in the sale of second hand homes was notable last year with a rise of 18.4%, to reach 199,943 transactions. By contrast, the number of new homes sold decreased by 16.9%, to amount to 119,446.

25,998 houses were sold in total in December, an increase of 15.7% on the same month last year – the fourth consecutive monthly increase – and 3.2% more than in November.

After three years of decline, house sales have returned to positive territory in the context of a strong price correction. In fact, since their peak in 2007, house prices in Spain have decreased by more than 40%.

During the crisis, the worst years for house sales were 2008 and 2009, when the number of transactions plummeted by 28.8% and 25.1%, respectively. Double-digit decreases were also recorded in 2011 and 2012 (-18.1% and -11.5%, respectively), however, the decline eased in 2013 to 1.9% as the tax relief for house purchases ended.

89.7% of homes sold last year were unsubsidised (free housing) and 10.3% were subsidised (protected). In total, sales of unsubsidised homes increased by 3.2% in 2014, whilst sales of subsidised homes decreased by 6.2%, a smaller decline than in previous periods.

Andalucía leads the ranking

By autonomous region, Andalucía recorded the highest number of house sales last year (64,349 transactions were closed there), followed by Cataluña (47,113), Valencia (46,678) and Madrid (44,231).

The autonomous regions that recorded the fewest number of transactions were La Rioja (2,263), Cantabria (3,917) and Navarra (4,403).

In relative terms, the number of house sales rose in eleven autonomous communities in 2014 and decreased in six. The regions that experienced the highest increases in terms of the number of transactions were the Balearic Islands (+18.5%) and Navarra (+13.9%), whilst the ones with the largest decreases were La Rioja (-25.1%) and Castilla-La Mancha (-12.6%).

Original story: Expansión (by )

Translation: Carmel Drake