Annual property sales spending estimated growth of 20%
Thursday, February 15, 2018 @ 7:51 AM
SPAIN'S residential property market had grown by 23% year-on-year by the third quarter of 2017, and pending year-end results, an overall annual increase of at least 20% has been given as the provisional figure.
In nine months, the residential home market saw €53.9 billion change hands in sales and purchases, with one in 10 of the latter being for new builds.
The same period in 2016 saw transactions totalling €43.9bn, and the year end on a total of €60.8bn.
This is still lower than the record high of €80.8bn in 2010, but at the time, was the highest since then – a sum that has since been beaten.
The nearly €54bn in the first nine months of 2017 translates to 374,027 homes sold – 23.4% more second-hand properties and 19% more new builds.
Madrid was the region that saw the highest amount of cash change hands, at €11.4bn, followed by Catalunya at just under €11bn, Andalucía at €8.7bn and Valencia at €5.9bn.
The Balearic Islands (€3.08bn), the Basque Country (€2.8bn), Canary Islands (€2.4bn) follow, with Castilla y León, Galicia, Castilla-La Mancha, Murcia and Aragón sitting between €1.54bn and €1bn.
Read more at thinkSPAIN.com