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Spanish home sales up by 9% in March according to data from INE



Country:  Andalucia; Catalonia; Madrid Province; Valencia Province

A surge in the sales of second-hand flats led to an overall increase in home sales in Spain of 9% against March 2009 and consolidates the market rebound since the beginning of the year. The increase follows the record growth figures from February when Spanish home sales grew by 18.7% the highest monthly increase for two years.

Of the 37,561 sales in March, 48.9% were made on new homes and 51.1% on second-hand properties, according to the Statistics on Transfer of Property Rights published today by the National Statistics Institute (INE).

The overall growth of 9% is being driven by the growth in second hand sales which rose by 25.1% (19 212 transactions) whilst the sales of new buildings decreased by 4% (18 349 transactions).

The overall rise is the third consecutive monthly year on year rise following two years of declining sales.

Of the 37 561 sales transactions in March, 89.5% were on standard housing and 10.5% on social housing. The former increased by 9.2% compared to March 2009.

57.3% of all transactions were recorded in just four geographical regions: Andalusia, Madrid, Valencia and Catalonia.

May 2010

See Also:   Spanish home sales up by 9% in March according to data from INE


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