Wednesday, 29 November 2017

Spanish Property Sales up 16% in August

Spanish Property Sales up 16% in August


Property sales continue to rise
The 41,282 homes sold in August means that the Spanish property sector has once again enjoyed the benefits of the improved economic outlook across Europe in the summer. The sales figures for August come from official INE data and represent an increase of 16% compared to August of 2016. It’s the seventh year in a row that monthly home sales have increased for 2017.

The only anomaly in 2017 came when figures dipped slightly in April 2016 – a blip that is believed to be caused by April being the month of Easter this year.

August saw a nationwide increase in home sales across all 17 of the autonomous regions of Spain, with a 37.9% increase in Castilla-La Mancha and a 32.5% increase in Comunidad Valenciana, which saw 163 sales per 100,000 inhabitants.

When taken as a yearly figure through the end of August, Spanish home sales reached 315,795 so far in 2017; an increase of 14% compared to the same time period in 2016.

Looking even further, the 12 months between August of 2016 and 2017 shows 443,483 properties were sold. This represents an increase of 13.1% over the figure for the previous 12 months and showcases a massive increase of activity in the property market since 2014, when property sales were less than 300,000 annually.