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A strong yearly growth rate of 18%
The”Instituto Nacional de Estadistica” just released the last number of transactions for the month of January 2017, it is 38 457. Compared to December 2016, it’s a growth of 30% and 18% compared to January 2016.
Cantabria, Balearic Islands and La Rioja with growth rate higher than 40%
Please find our analysis per region.
The growth is the strongest in Cantabria, Balearic Islands and La Rioja with a growth rate higher than 40%. We find three other regions with growth rates in the 30%: Catalonia, Castilla-La Mancha and Extremadura. It’s interesting to note that Catalonia is a region with a very big number of transactions, the second highest in Spain with 6 752 transactions, and all the other regions in this top 6 have a much lower level of transactions. Finally, all other regions have a growth rate in the 15% region apart of Andalusia with 8% and the Canary Islands with a negative rate of 1%.
Here is the table with the numbers sorted by descending order on the number of transactions:
Andalusia, Catalonia, Madrid and the Valencian Community
With no surprises, the four biggest regions in term of transactions are Andalusia, Catalonia, Madrid and the Valencian Community. The number of transactions for those top regions in Spain is higher than 5000. Andalusia and Catalonia represent 18% of the transactions. Madrid and the Valencian Community represent each 14.5% 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 Valencia Community is the biggest region and Catalonia is the third.
Transactions activity confirmed by the high mortgage activity trend noticed in 2016
Those numbers are interesting to compare with our mortgage activity report for 2016 where the growth rate was 14% in terms of the number of mortgages and 17% in terms of value.
Foreigners active as well with 17% of the transactions.
Check our full report on Why should you invest in Spain in 2017?