Home Sales Registered In April Show Market Continuing To Expand

spanish property sales april 2015

The number of home sales inscribed in the Property Register in April rose by 9 per cent in April year-on-year, according to the latest data from the National Institute of Statistics (INE).

Excluding social housing (around 10 per cent of the overall market), there were 24,090 home sales registered in April, the highest monthly sales figure in April for four years.

The red line in the chart above illustrates that the Spanish property market is no longer shrinking, though there are still no signs of a significant recovery in sales at a national level either.

Other than a modest return to growth in sales, the most noteworthy trend, once again, is the collapsing sales of new (never-previously-sold) homes, as the pipeline of new homes in Spain runs dry.

spanish property sales april 2015

It is reasonable to assume the Spanish property market would be growing more if there was a good selection of new developments for sale in areas of demand. This will not be resolved until developers can get financing again.

REGIONAL RESULTS

By region, using a selection most relevant to foreign buyers, sales increased the most in Seville province, followed by Málaga, home to the Costa del Sol. At the other end of the scale were Cantabria and Teruel, with big declines in sales. It’s surprising that sales were down in the Canary Islands, where foreign demand has kept the market buoyant in recent years.

spanish property sales april 2015

But looking at the year-to-date figures compared to the same period last year, for all types of property (new and resale), sales in the Canaries are still growing thanks to a big increase in resales. Year-to-date, property sales have increased the most in Barcelona and Catalonia in general, Followed by Asturias and Las Palmas (Canaries). At the other end of the scale sales are down the most in Cantabria, Almeria, and Castellon, home to the Costa Azahar.

spanish property sales april 2015

Finally, a table summarising monthly sales published by the NIE for the last nine years.

spanish property sales april 2015

FIRST QUARTER SALES FIGURES FROM HOUSING DEPARTMENT

This week the Housing Department in the Ministry of Public Works (Fomento) also published its figures for home sales in the first quarter of the year. In this case sales were were up 4.4 per cent to 85,133 (including social housing).

spanish property sales q1 2015

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3 thoughts on “Home Sales Registered In April Show Market Continuing To Expand”

  1. mario15

    Hello, first of all congratulations on the web, I found that contains a complementary view to the studies I’m developing. In my blog I focus on domestic demand, particularly in the city of Madrid. It is a fact that as the market in tourist areas shows clear signs of recovery, but in large metropolitan areas, where still remains the effect of the economic crisis, housing prices are still falling and the volume of purchases is still very low to consider a change in the trend of housing prices.

    1. Profile photo of Mark StücklinMark Stücklin Post Author

      HI Mario, that’s interesting. Big funds are piling into Madrid on the assumption it’ll take off. I can also see first hand that domestic demand is recovering in prime Barcelona, where foreign buyers are also driving the market. And some say this is all just a false dawn as far as domestic demand goes. What is your website address – I’d like to read your blog.

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