Spanish Real Estate Keeps Reaching For The Stars...

Home Sales Rose by 13.8% in September

The sale of homes in Spain increased by 13.8% in September, over the same month of 2014, reaching a total of 30,711 transactions, according to the latest data published by the National Statistics Institute, which relates to sales registered in the property records from transactions carried out in months prior to the reference period.

September’s year-on-year increase is more than 10 points less than the increase registered in August, of 24.2%, but is still the thirteenth consecutive month of year-on-year increases in home sales, due solely to the 36% increase in transactions on second hand housing, which reached a total of 24,600 transactions, compared with sales of new housing, which fell by 31.3% over September 2014, to 6,111 transactions.

In the first nine months of the year, home sales accumulated an increase of 12.2%, with new housing registering a decline in transactions of 35.3%, while those on second hand housing rose by 42.9%.

Month-on-month (September over August), home sales rose by 4.6%, in contrast to the advance of 14.1% recorded in September 2014.

Most of the home sales carried out during the ninth month of the year, specifically 89.9%, were on free housing, which increased by 15% year-on-year, reaching 27,621 transactions, while 3,090 transactions were carried out on protected housing (10.1%), representing an increase of 4.5% over September 2014.

The statistical agency also reported that, in September, the region of Valenciarecorded the largest number of home sales per 100,000 inhabitants, with 123.

In absolute terms, Andalucía continued in the lead for home sales in the ninth month of the year, with 6,042 transactions, followed by Valencia (4,829), Catalonia (4,785) and Madrid (4,252).

In relative terms, the regions where home sales increased most year-on-year were Extremadura (+49.2%) and La Rioja (+36.1%), and the only three regions to register declines were Castilla-La Mancha (-10.3%), Navarra (-7.6%) and Asturias (-3.5%).