News: Spanish Property Sales Up 9.8% in 2015
According to the latest statistics published by the Spanish Government's Ministry of Public Works, sales of homes in Spain increased almost 10% during 2015, reaching a total of 401,281 transactions. The figures represent the third consecutive year of increases in home sales and the greatest volume of transactions since 2010.
Resales dominating demand
The Ministry's data shows that the growth is largely due to the resale property market, which accounted for 89% of the transactions, up 13.4% on the figures for 2014. In contrast, sales of new homes, which represented 11% of the market total, fell by 10.6% over the previous year to 41,938 transactions.
Spanish national newspaper El Mundo reported that a total of 114,598 homes were sold in the fourth quarter of 2015, representing an increase of 2.4% compared to the same period the year before, the highest figures since the fourth quarter of 2010.
Prices up across the board
Property prices increased across all of Spain's regions during 2016, with the exception of Castilla-la-Mancha, which registered a decline of -0.8%. The highest increases were registered in the Balearic Islands (+17.4%), the Basque Country (+17%), Cantabria (+16.6%), Murcia (+16.3%) and Aragón (+14.3%).
With regard to the provinces, the steepest increases were recorded in Segovia (+28.5%); Vizcaya (+24.8%); Cádiz (+21.4%); the Balearic Islands (+17.4%); Cantabria (+16.6%); Murcia (+16.3%); Valencia (+14.8%) and Zaragoza (+14.8%).