Spain Records 30% Property Sales
Increase in March
In the past 12 months over 400,000 Spanish homes have tradedhands; 15% more than in the prior 12 months.
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The recovery continues which is wonderful for the whole of
spain
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According to the data from the INE, the 40,461 homes
changing hands during March in Spain was the highest monthly figured reported
since 2011. It would have been the highest since the credit crunch bit in 2008,
except the government boosted 2011 sales with a tax break.
2017 has been a record-breaking post-recession year for
property transactions so far, with January and February posting sales data that
resembles something from before the housing bubble burst.
Putting it all together, some 114,528 Spanish properties
were bought and sold in the first three months of 2017; around 15% more than
during the first three months of 2016. Extrapolating it across 12 months shows
that property sales will reach 419,000 – an increase of 15% over the previous
12 month period.
16 of the 17 autonomous communities of Spain reported increasesin property sales. The only area where sales contracted was the Canary Islands,
where sales were down 3.5% compared to last March.
The largest increases were reported in La Rioja, Cantabria,
and Asturias; all of which reported growth of over 40%.
Analysing the data from the INE further shows that 110
property transactions occurred for every 100,000 people considered to be of
home-buying age. This came up to 150 and 148/100,000 people in Valencia and the
Balearics respectively.
