This is a website for buyers, owners, and sellers of property in Spain, offering reliable information and resources to help you get things done with confidence. It is run by Mark Stücklin, author of the Spanish Property Doctor Column in The Sunday Times (2005-2008), and the book ‘Need to Know: Buying Property in Spain’ published by Collins.
The Spanish property market appears to have bottomed out, at least in terms of transactions, but there is no sign of a strong rebound in sales.
Excluding social housing, there were 33,581 residential property transactions in June, 5.5% up on the same month last year, according to the Government’s figures (INE).
In the first 6 months of the year, sales were up 9.4% compared to the same period last year. But compared to the first 6 months of 2007, sales were down 50%.
Month to month, sales fell 1% in June compared to May. So the market may have bottomed out, but there is no strong rebound underway.
The following table shows monthly sales figures for the last 3 years, with percentage changes over different time frames, to put it all in perspective.
The next chart gives the annualised trend for new and resale transactions. Resales were 18% up in June, whilst new sales were 5% down. Expect a similar story the rest of this year.
And finally, sales broken down by selected regions. Good news from the north, bad news from the south.
