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Property sales up 15.5% in February
Sales rose by 15.5% year-on-year this February to a monthly total of 29,714 according to data released last week by the Spanish National Statistics Institute (Instituto Nacional de Estadística: INE). The rise means that property sales in Spain have now strung together six consecutive months of increases.
The trend of resales driving the market continues and the number of resales sold this February was up by an impressive 50.4% year-on-year to 21,613 transactions. On the other hand, new-build sales continue to fall and were down 28.6% for the month to a total of 8,101 sales.
Andalucia saw the highest number of sales in February with 6,149 followed by Madrid: 4,834, Catalonia: 4,558, and the Valencian Community: 4,132. The Valencian Community led the ranking of the Spanish regions in which most properties were sold per 100,000 inhabitants in February with 105 and was followed by Madrid with 96.
The results for February show sales continuing the recovery which began last year. The increase for January and February 2015 on the first two months of 2014 stands at 12.3% with resales having increased by 50.6% for the two months combined and new-build sales having fallen by 33.3%.