The key highlights
In September there is a significant percentage increase in the number of house sales registered at Land Registry between the month of August to September. With an increase of 14.9% 2014 is the first year in over 5 years that sales in September have exceeded those sold in the month of August.
Actual sales of homes also saw an increase of 13.7% when compared to the same month in the previuos year. Whilst overall transfers of property in Spain was down on the same month of last year when the figures for dwellings are considered the news is all positive.uring the
Why are total property transfers down
Property transfer data as issued by the INE covers all areas including swaps, Inheritance, Commercial and others catagory into which the transfer of property to a Bank after the repossession process has been finalised. The area of others has decreased which is in fact good news suggesting less homes are in a default situation.
Used housing versus new builds
During the boom years new build house sales either outstripped resales or the balance between the two each month was very similar. In the current environment it would appear buyers are favouring resales where they often see better value for money when considering size of property versus price being asked. 66.9% of all sales in September were resales and 33.1% new builds which is good news for individual sellers.
The Regions
Madrid had one of its best months for many months on sales of dwellings, with a high percentage increases both month on month and when considering sales from the same month of the previous year. Andalucia remained the Region with highest number of sales but lost ground against other regions. Only two regions including Cataluna showed a decrease.
Read the full article:- News for the sale of homes in Spain
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