Home sales up by nearly 10% in a year
Wednesday, November 14, 2018 @ 2:27 PM
LATEST home sales figures show a year-on-year rise as at September 2018 of nearly 10%, making this the sixth consecutive month of increases in property purchases.
According to the National Institute of Statistics (INE), sales in September – the most recent data on record – rose by 9.7% compared with the same month in 2017, up by a comfortable 2.3 percentage points on August, when a year-on-year increase of 7.4% was reported.
In September alone, a total of 42,766 residential properties were bought and sold, the majority – 34,750 – being second-hand homes, whilst the remaining 8,016 were new builds.
Both new and used property purchases were up – the latter by 9.8% and the former by 9.6%.
A fall of 4.2% was seen in these transactions between August and September 2018, although this was less sharp than the reduction between August and September 2017, which was 6.2%.
Decreases in sales volumes are normal over the summer-autumn transition, although the fact the gap is closing is a sign of ongoing growth in the property market.
Read more at thinkSPAIN.com