Spanish real estate market activity: +10% growth for transactions in 2018

28 Feb
2019
Where are foreigners buying in spain? Infograhic

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How strong is the activity on the real estate market in Spain?

The “Instituto Nacional de Estadisticas”, INE, has just released the Transactions statistics for the month of December 2018 and the full year.

  • 33.831 properties were sold in December +3.8% vs last year
  • 90% are transactions on non protected properties while 10% are on protected properties
  • 27.659 properties are second-hand sales, i.e. 82% of the transactions, a growth of 6.5% vs last year
  • 6.172 are new build properties, i.e. 18% of the transactions, a growth of 93.2% vs last year

 

Here is the price and transaction evolution with quarterly data over the last 20 years:

 

What are the most active regions in terms of transactions?

  1. Andalusia with 6.741 transactions, +7.1% vs last year
  2. Catalunia with 5.184 transactions, +5.9% vs last year
  3. The Valencian community with 5.140 transactions, + 2.9% vs last year
  4. The Madrid Community with 4.854 transactions, +1.6% vs last year

 

Those 4 regions are the same where foreigners are the most active:

Where are foreigners buying in spain? Infograhic

Where do we see the strongest growth in December vs last year?

  1. The Region of Murcia with a growth of 22.6% and 1.102 transactions
  2. Cantabria with a growth of 19%, and 500 transactions
  3. Extremadura with a growth of 18.4% and 560 transactions
  4. La Rioja with a growth of 18.6% and 223 transactions

 

Where do we see the biggest activity vs the living population in the region?

  1. The Valencian community with 131 transactions for 100.000 inhabitants
  2. The Balearic Islands with close to 109 transactions per 100.000 inhabitants
  3. Cantabria has 108 transactions per 100.000 inhabitants

 

Where do we see the slowest activity vs the living population in the region?

Asturies, Aragon, Canary Islands, Castilla and Leon, Castilla La Mancha, Catalonia, Extremadura, The Basque country and Galicia are the least active regions with transactions between 95 to 63 per 100.000 inhabitants.

If you want to check further the activity on the top 20 property markets in Spain: evolution of prices and transactions up to June 2018, have a look at our full report:

 

 

What was the situation on the Spanish property market in August 2018?

  • 44.637 properties were sold in August +7.4% vs last year
  • 90% are transactions on non protected properties while 10% are on protected properties
  • 36.462 properties are second-hand sales, i.e. 82% of the transactions, a growth of 6.9% vs last year
  • 8.175 are newbuild properties, i.e. 18% of the transactions, a growth of 9.6% vs last year

 

Most active regions in terms of transactions?

  1. Andalusia with 9.141 transactions
  2. Catalunia with 6.883 transactions
  3. The Valencian community with 6.591 transactions
  4. The Madrid Community with 6.212 transactions

 

Strongest growth vs last year?

  1. The Navarre with a growth of 37.3% and 670 transactions
  2. The Region of Murcia with a growth of 23.4% and 1.423 transactions
  3. The Asturias with a growth of 23.4% and 817 transactions
  4. The Basque country with a growth of 18.7% and 1.855 transactions

 

Biggest activity vs the living population in the region?

  1. The Valencian community with 168 transactions for 100.000 inhabitants
  2. Andalusia with 139 transactions per 100.000 inhabitants
  3. The Navarre, Cantabria, The Balearic Islands have all close to 130 transactions per 100.000 inhabitants
  4. Murcia, The Canary Islands and Madrid have all close to 122 transactions per 100.000 inhabitants

 

What is the evolution over the full year 2018?

Strong growth of properties sold in Spain in 2018: +10.1%

The growth was strong in 2018: +10.1% to 515.051 units. Actually, it’s not the first time: +15,4% in 2017, +14% in 2016 and +11.5% in 2015. To compare this number with the units sold in 2014, we had 318.8 properties sold in 2014.

Please remember, you have 26m properties in Spain and before the crisis, yearly transactions were bigger than 800.000 units/year.

 

New build and existing properties are both strong in 2018:

New build properties: 92.520 sold in 2018, +11.1% vs last year. (+10.8% in 2017, -2.4% in 2016, -34.5% in 2015)

Existing properties: 422.531 sold in 2018, +9.9% vs last year. (+16.4% in 2017, 18.5% in 2016, 38.4% in 2015)

 

Check the evolution over the last 4 years

 

Which regions are growing faster than the country average?

Here are the Spanish regions growing at the fastest pace in 2018:

Region of Murcia 24.3%
La Rioja 18.9%
Castilla-La Mancha 18.1%
Navarre 16.2%
Valencian Community 14.7%
Asturias 13.8%
Cantabria 13.6%
Andalucía 13.1%
Galicia 12.1%
Aragon 10.8%

 

Which are the Spanish regions with the most transactions per 100.000 properties?

Valencian Community 2000
Balearic Islands 1600
La Rioja 1500
Madrid (Community of) 1500
Andalucía 1500

Which are the Spanish regions with the least transactions per 100.000 properties?

Galicia 800
Extremadura 900
Asturias 1100
Castile and León 1100
Basque Country 1100

 

Check the Spanish report from the INE.

Looking for a mortgage or a local expert in Alicante, Malaga, Valencia, Madrid, Barcelona,…? Ask us directly!

Stéphane 

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

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