Spain Records 30% Property Sales Increase in March

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.

The recovery continues which is wonderful for the whole of

spain

The latest data from the Institute of National Statistics (INE) released last week show that March has seen an increase of 30% in transactions year-on-year.

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.

Figures Show This Was the Best March Ever for Spanish Job Creation

Figures Show This Was the Best March Ever for Spanish Job Creation

Great news for spain as a whole

When it comes to Spanish job creation, all of the projections from economists are positive when it comes to the year ahead. Many experts are confident that Spanish unemployment could dip below 17%; making it the first time this has happened in years.

Data from the Labour Ministry of Spain was published this week that shows why there is such certainty about this recovery. The figures for March show that Spain created more jobs this March than in any other March since records began.

A total of 48,500 Spaniards entered the workforce in March, with the figure soaring above 392,000 for the past 12 months. This equates to everybody in a mid-sized city being given a brand-new job.

Eurostat suggest that the figure could be even higher. They feel that over half a million Spaniards have entered the working world over the past year; which is the equivalent of the entire population of Malaga.

The total amount of Spaniards not working has dropped down to just four million. The most striking thing is that, during the past 12 months, some 1.2 million new jobs were created in the entire 19-member strong Eurozone. This would mean that Spain was responsible for around half of everyone employed during this time period.

There are a wider range of jobs on offer in the country too. The amount of indefinite contracts has risen by 18% across the past year, outperforming growth in the temporary employment sector; which increased 14.5%. This would appear to symbolise a growing confidence in the long-term growth of the country.

As far as industries go; it was the construction sector of Spain that had the best growth in March. The construction sector was responsible for some 2.44% of the jobs created; putting it ahead of every other sector.