HOME SALES UP 20% IN AUGUST

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The number of properties sold in August increased when compared to August 2015. This is according to the latest data from the National Statistics Institute. It further confirms the recovery of the real-estate market in Spain.

The total number of properties sold in August was 69,409, representing annual growth of 13.8%. Of those, 87.1% related to urban properties, while the remaining 12.9% were rustic properties. Within the urban properties, 58.7% were house sales.

The number of urban property sales showed annual growth of 15.8%, while sales of rustic properties increased by 1.9%. Within urban properties, sales of homes recorded significant annual growth of 20.3%.

When comparing the number of properties sold in August to sales in July the increase is 7.3%. This is 17.1 points higher than the same period in 2015 when the number of sales in August was 9.8% lower than in July of the same year.

In August sales of new homes accounted for 17.2% of sales, while second hand property accounted for the remaining 82.8%.

New home sales showed annual growth of 3.3%. An increase of 24.6% was recorded for second hand homes.

By Autonomous Community

Regarding sales per 100,000 people, the highest numbers were seen in La Rioja (607), Aragon (592) and Castile and Leon (510).

The highest annual growth was seen in Extremadura with a 28.9% increase. Significant increases were also seen in Aragon (19.9%) and the Balearic Islands (17.9%).

We see a negative annual variation in La Rioja (-36.0%), Murcia (-7.8%) and Galicia (-4.5%).

House Sales

When looking at those areas in terms only of house sales, per 100,000, the Balearic Islands came out on top with 142 sales. Valencia was next with 125. Andalusia and Catalonia followed both with 108 house sales per 100,000 population.

In Andalusia the number of homes sold in August was 7,136. This represented annual growth of 18.4%.

The Balearic Islands were the highest in terms of annual growth in house sales per 100,000 with 49.2%. Catalonia followed with 41%, and Navarra with 38.1%.

At the other extreme Murcia showed a negative annual variation of -5.2%. House sales in Galicia, while showing a positive annual variation, only increased by 4%, while Madrid saw annual growth of 10.4%.

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