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Spanish Residential Property Sales grow by 19.6% to June 2016

Latest statistics released by the General Council of Notaries show Spanish house sales grew by 19.6% in the first six months of the year
Total transactions numbered 225,551. This was significantly boosted by second hand market.

From January to June, 153,631 sales happened on second hand homes. This was an increase of 19.29% over the same period in 2015. Second hand properties made up 68.1% of all the homes sold in the period.

The number of new homes transactions on was just 15,675 over the same period. This was a reduction of 13.6% over the previous year.
It does not take a rocket scientist to work out that Notaries’ data show there were ten times the number of transactions on second hand homes than those carried out on new homes.

In June this upward trend continued. Home sales grew by 7.1%, year-on-year. Again second hand home sales increased by 11.5% reaching a total of 29,052 units. New Build transactions, however, registered a decline of 33.4%, with a total of just 2,751 sales.

According to the Notaries’ statistics, in June 44.7% of the home sales were financed through a mortgage loan. The average amount lent was 128,480 euros.

Posted 23/8/2016

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