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Last Updated on 18/07/2023 by STEPHANE
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A yearly growth rate of 23% for Spanish property transactions
The”Instituto Nacional de Estadistica” just released the last number of transactions for the month of May 2017: 44 782 properties were sold. Compared to May 2016, it is an annual increase of 23%. This is by far the strongest month for the last year.
Of those 44 782 properties, 7 733 are newly-built homes.
Since January 2017, 166 093 properties were bought, i.e. a growth of 10% against 2016.
The three regions with the biggest growth rate in 2017 are:
- Madrid with a growth rate of 25.8%
- Asturias with a growth rate of 19%
- and Extremadura with a growth rate of 16.7%
The regions with a negative growth rate in 2017 are:
- Basque Country
- La Rioja
- Region of Murcia
- Castile and Leon
On a monthly basis: all the regions benefit from positive growth rate apart from Murcia and La Rioja.
The four biggest regions are: Andalusia, Catalonia, Madrid and the Valencian Community
- Andalusia with 27 480 transactions and a yearly change of +11%
- Catalonia with 24 869 transactions and a yearly change of +14%
- The Valencian Community with 22 588 transactions and a yearly change of 11%
- Madrid with 18 022 transactions and a yearly change of 26%
Together those 4 regions represent about 60% of the transactions!!!
With no surprises, the four biggest regions in term of transactions are Andalusia, Catalonia, Madrid and the Valencian Community. Andalusia and Catalonia represent 16.5% and 15% of the transactions. Madrid represents 11% and the Valencian Community represents 13.5% of the transactions. It is interesting to compare this with our infographics on where the foreigners are buying real estate in Spain, you will find that Andalusia is the second biggest area for foreigners while the Valencian Community is the biggest region and Catalonia is the third.
Foreigners are active as well with 14% of the transactions during the last twelve months up to March 2017. Have a look at the transaction history in Spain for both Spaniards and Foreigners:
History of Real estate transactions in Spain, Spaniards and Foreigners
Yearly data. Source: Ministerio de Fomento
Check our full report on Why should you buy a property in Spain in 2017?