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House Sales Close the Best October in 15 Years with the Second-Hand Segment as the Safe Haven

Transactions grew by 11.4% in the tenth month of the year, according to the INE's Property Sales Survey.

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The acceleration in the housing market during the final stretch of the year has been demonstrated once again by new official data, which makes it clear that, given the scarce rental supply and the high prices in the new build sector (together with the increase in the cost of mortgages), the second hand segment is the absolute safe haven. In total, house sales rose by 11.4% in October compared to the same month in 2021, to reach 51,615 operations. That figure represented the highest in a month of October since 2007, when more than 58,500 sales were completed, according to the National Institute of Statistics (INE) report issued on Friday.

With the interannual increase in October, house sales have now recorded 20 consecutive months of positive growth rates. In addition, the increase in operations has accelerated by 4.5 points compared to the year-on-year rise in September, when house sales increased by 6.9%, reports Europa Press.

Read the full article in Spanish.


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