Spain’s residential market is continuing to demonstrate dynamism. There were 53,410 sales and purchases in September, according to the INE. The figure represents an increase of 40.6% y-o-y and 7.1% in housing purchases over the month before. It is also the most significant increase in 13 years.
20.5% of the homes sold in September were new, while 79.5% were second-hand. Sales of both were up by 30% and 43%, respectively. “New housing is experiencing an unprecedented boom… Many Spaniards are opting for brand new housing developments for various reasons,” explains María Matos, a spokesperson for Fotocasa.
91.9% of the homes sold in September are freehold, and 8.1% are protected.
Proportionally, the Valencian Community had the most sales at 190 per 100,000 inhabitants. In total, 7,617 properties were bought and sold. Andalusia followed with 177 transactions per 100,000 inhabitants.