The number of home sales inscribed in the Spanish property register in September was 12% up on the same month last year, according to the National Institute of Statistics (INE). The market has now grown almost every month since March 2014.
There were 30,976 homes sales inscribed in September (not including subsidised housing), an increase of 12% on last year. The chart above clearly illustrates how the market has recovered from the lows of the crisis years, but is still a long way from the highs of the boom years.
Resales were up 17% and new homes sales down 1%, though the next chart shows how the big declines in new home sales have largely come to an end.
The following chart shows year-to-date sales growth by selected region (focusing on areas where foreigners tend to buy). Growth is strongest in the Balearics, followed by Almeria (a small market where a small increase in numbers has a big impact on percentage change), and Barcelona.
Looking just at September, compared to last year, sales were actually down in Malaga, home to the Costa del Sol, which probably reflects a decline in British demand post-Brexit. Sales growth was also below average in Alicante, home to the Costa Blanca, another region popular with British buyers.
SUMMARY TABLE MONTHLY SPANISH PROPERTY SALES – ALL YEARS