Spanish Property Sales and Transfers Increase in 2017

Spanish Property Sales and Transfers 2017

Up once more compared to 2016 according to figures published by the Institute for National Statistics in Spain (INE).

December saw 125,263 properties registered at Land Registry, almost 2% more nationwide than in the same month of 2016. This includes all transmissions of property, for example inheritances, easements, resale and new first time sales etc.
December Sales showed a 9.2% increase on same month for 2016.
64,135 sales were recorded for December 2017, of which 85% were urban properties and 15% rustic dwellings.
Over the twelve months of 2017, property sales increased by a significant 14.6%

Registered housing sales, including government owned accommodation.

In December, 89.7% of dwellings sold were those on the free-market and 10.3% were protected housing.
In annual terms, the sales of free-market homes increased by 8.4% and protected properties by 16.5%.

17.8% of dwellings transferred by sale in December were new, and 82.2% were Resales.
The number of transactions on new properties increased by 11.0%, while that of Resales increased by 8.8% compared to December 2016.

What does this mean for Andalusia? Making sense of it all.

December 2017

December 2017 alone saw 20,812 registered property transfers for Andalusia.

This equates to 95 transfers for every 100,000 inhabitants. Third highest in Spain after Valencia and The Balearics.

Of this figure, 6,287 were property conveyances – selling of properties in the open market –

This marks a 10.7% annual increase. Compare this to the Catalan region, down by 5.7% and it is tempting to emphasise how markets need stability. Andalusia with its infrastructure, sunshine and stable political environment is a great place to invest. Make up for dips in your portfolio for Spanish property from 2007 onwards; property purchase always has highs and lows, but now is the time to get those bargains once again.

Property Conveyances Andalusia 2017

Andalusia realised 293,538 conveyances for 2017.
An annual variation of 5.6% in change of property ownership for the year including inheritances etc.
This is an annual variation of 12.6% as a result of home sales on the open market (89,337).
It equates to 1,356 per 100,000 inhabitants.
51,878 properties were classified as rustic.
149,995 were urban properties.
14,601 were plots.
All other transactions amounted to 77,064.
16,397 conveyances were new builds. The off plan market has started up again.

We are in the early stages of a new market with properties reduced to lower than their real values by owners who just want to shift them. For those of you who lost money in the downturn of the market, act now to recoup losses. For those of you thinking about investing for the first time, now is the time to commit.