Insight into the Spanish property market, guides to help you make informed decisions, and a directory of real estate professionals and home service providers from a source you can trust.
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.
When you buy or sell property in Spain the sums of money are large, perhaps one of the biggest financial decisions of your life. The high transaction costs you will face like taxes and commissions only make the decision more important to get right. And when you own property in Spain you face a host of extra challenges to manage, and costs to control. Unfortunately, the Spanish property market is opaque and full of pitfalls, and notoriously unprofessional. Buying and selling property in Spain is not a decision to be taken lightly, and you may find it much easier to buy than sell if you don’t take care. In this market it is crucial to do your own research, and don’t rely exclusively on people who are trying to sell you something – let’s just say they might not have your best interests at heart. Spanish Property Insight is the only independent source of information and analysis of the Spanish property market. Don’t even think about buying or selling property in Spain without subscribing to Spanish Property Insight.
Spanish home sales inscribed in the Land Registry were up by 28% in October, one of the biggest increases in sales since the recovery began.
There were 33,727 Spanish home sales inscribed in the Land Register in October, and 37,228 if you include homes subsidised by the Government, known as VPO. Compared to the same month last year, Spanish home sales were up by 28% (excluding VPO, 27% including), all according to the latest figures from the National Institute of Statistics (INE).
Bear in mind these figures are based on sales inscribed in the Land Register, not sales completed in the month. Sales inscribed in October were actually completed in August and September, or even before, so these figures lag the market by a few months.
New and resale property transactions
Home sales in October were divided between first-time sales / new homes with a market share of 19% (6,943) and resales with a market share of 81% (30,285).
Sales of both new and resale homes increase in October, with new home sales up 30%, and resales up 26%. New home sales have now increased for six consecutive months representing the first period of sustained growth in new home sales in more than a decade.
Spanish Home Sales by Region – October 2017
Looking at the evolution of sales by region, 2017 has been a good year for most areas of interest to foreign buyers and investors.
Year to date, sales are up by double digits in most areas, and only down in the Andalusian province of Almeria. In the year-to-date figures (first ten months of the year), sales growth was particularly strong in Madrid and Catalonia.
However, if you look at the change in sales inscribed in October alone, the picture is more complex.
Figures were up by a massive 61% in the Madrid region, but in Catalonia – where a looming constitutional crisis may have undermined confidence – sales growth was well below the national average, and dramatically lower than the figures Catalonia was posting in the first half of the year. The Catalan independence movement is clearly having a negative impact on the regional housing market in terms of lost sales.
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