The upward trend in residential property sales continued throughout the month of November with growth accelerating in less expensive areas of Spain.
A total of 42,150 residential properties were sold across Spain in November, representing a rise of 2.8% on the same period in 2017, according to new data published by the government’s central statistics unit.
The market has started to warm up in areas which were slow to join the property recovery and where prices remain well below the peak values reached during the property boom; out of Spain’s 17 autonomous regions, the most significant rises in property sales during November occurred in Cantabria (30.3%), La Rioja (28.8%) and Castilla-La Mancha (26.6%).
Between January and November, a total of 481,000 properties exchanged hands, representing a rise of 10.6% compared with the same period in 2017. In fact, residential property sales rose ten out of the first eleven months of 2018, with the only exception being March – possibly due to Easter falling earlier than the previous year.
Property sales have risen 10.5% over the past 12 months to reach 513,431 units. Sales have risen by 75% since February 2014 when the market bottomed out and are now at the highest level since January 2009, according to government figures.<< Upturn in International Tourism puts Spain on Track to beat 2017 Figures…but only just