Spanish home sales increased by 16% in April, the 14th consecutive month of double-digit growth in a post-pandemic boom that could be showing the first signs of abating.
There were 60,734 home sales witnessed by Spanish notaries in April, and 234,808 in the year-to-date (first four months), according to the latest data from the notaries’ association. That meant a 16% increase compared to the same month last year, and 20% up year to date.
Compared to the ‘normal’ i.e. pre-pandemic year of 2019, April sales were up 21%, and by 24% year to date.
The 12-month rolling sales total illustrates how dramatic the post-pandemic recovery has been, but the last few months show the sales growth trend year-on-year turning down. That could be the first sign of the post-pandemic boom abating.
By region sales were up by double-digits in all regions of interest to foreign investors except Madrid (+1%) and Murcia (-2%). Sales growth was most pronounced in the Canaries (+45%), the Balearics (+23%) and Andalusia (+22%).
The notaries also revealed that Spanish house prices increased by an average of 6.6% in April compared to last year.