Home Sales Rose for Ninth Consecutive Month in May
According to recent data released by the National Statistics Institutes the number of transactions on home sales in Spain registered growth of 6% in May compared to the same period of 2014, with a total of 29,457 transactions being closed during the fifth month of the year.
With the May increase – three points lower than the 9.4% increase registered in April – home sales accumulated nine consecutive year-on-year increases, thanks solely to the 34.7% increase registered in sales of second hand housing which reached a total of 23,130 transactions. In contrast, the sale of new homes fell by 40.4%, compared to May 2014, to a total of 6,327 transactions.
In the first five months of this year, home sales accumulated an increase of 8.5%, with a decline of 37.3% in transactions on new housing and an increase of 42.6% in those for second hand housing.
Month-on-month (May over April), home sales rose by 8.1%, the lowest increase registered in this month in the past five years.
The majority of the transactions (89.8%) were for private housing, which recorded a year-on-year increase of 5.6%, to reach a total of 26,455 transactions, while transactions on subsidised housing totalled 3,002, with a rise of 9.7% compared to May 2014.
El Mundo reported that the greatest numbers of home sales per 100,000 inhabitants were registered in Valencia (116) and Navarra (98), while in absolute terms, Andalucia remained in the lead for home sales, registering 6,162 transactions, followed by Valencia (4,533), Catalonia (4,388) and Madrid (3,810).
In relative terms, the regions to register the greatest year-on-year increases in home sales were Navarra (32.9%), the Basque Country (19.3%) and Galicia (18.5%), while the largest declines were recorded in the Canary Islands (-14%) and Castilla-La Mancha (-10.9%).