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
• Navarre
• 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

1. Andalusia with 27 480 transactions and a yearly change of +11%
2. Catalonia with 24 869 transactions and a yearly change of +14%
3. The Valencian Community with 22 588 transactions and a yearly change of 11%
4. 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?

Source: Instituto Nacional de Estadistica

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Stéphane

Senior analyst and strategist at HTBIS

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Spanish Government will help young people for buying real estate from 2018

The Minister of Development, Íñigo de la Serna, has announced a new aid package for young people under 35 years who want to access a home starting 2018.

Here are the details on the project pending approval:

1. For both purchasing or renting a home
2. For people under 35 years
3. Starting in 2018
4. An aid of up to 10,800 euros.

Among the conditions:

1. The aid must not exceed 20% of the total price of the apartment
2. an annual salary that does not exceed 22,365.42 euros a year
3. not already the owner of a house
4. if rental, the aid will cover maximum 40% of the monthly rent (which should be of 900 euros maximum per month)
5. a maximum aid of 2400 euros per year per household

This aid to buy or rent a house for young people would be available in all the Autonomous Communities of Spain, as it is a Housing Plan sponsored by the Ministry of Development. Thus, it should be available in Andalusia, Aragon, Asturias, Cantabria, Castilla la Mancha, Castile and Leon, Catalonia, Ceuta, Extremadura, Galicia, Balearic Islands, Canary Islands, La Rioja, Madrid, Melilla, Murcia, Navarre, Basque Country And Comunidad Valenciana.

Find the official press release here.

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