Best result since 2010 for the Spanish property market
According to data published by INE (National Statistics Institute), the property market improves its sales figures. In fact, June closed with a year-on-year increase of 19.4%, which represents 36,856 transactions in absolute figures. The sixth month of the year returns to figures that were not seen since the end of the tax relief in 2012.
The 36,856 housing transmissions registered in June are the best data of 2016, improving the good data of May by 1.2%, and increasing by 19.4% the sales that in the same month of 2015 This represents a continuous year-on-year growth in 21 of the last 22 months. Only in January 2016, the comparative data with the same month of the previous year was negative.
In addition, it is the largest monthly data recorded in the last three years, since January of 2013, when the 39,920 sales were reached.
By type of housing, the sale of second-hand homes increased by 24% year-on-year in June 2016, adding 28 consecutive months to the rise. While new housing grew 2% compared to June 2015, its third consecutive increase after 23 consecutive months of falls.
The June data collected from the National Institute of Statistics (INE) are taken from the properties registered in the Property Registers (the official and public entity that keeps records of property operations in Spain).
Meanwhile, considering the accumulated data of the first half-year, also highlights that 2016 has sold 207,593 units, an increase of 16.4% year-on-year and the best data recorded between January and June since 2010, when it added 225,622 transactions.
The regions with the highest number of housing transmissions per 100,000 inhabitants were Balearic Islands (136), Valencian Community (128) and Canary Islands (118). Meanwhile, the regions with the highest annual rates of change were Balearic Islands (36.2%), Catalonia (34.4%) and Castilla-La Mancha (32.3%). On the other hand, Navarra (-12.7%) and La Rioja (-12.2%) recorded negative annual rates.
Source: INE (Instituto Nacional de Estadística)