Each of Spain’s 17 autonomous communities registered an increase in property sales transactions in November 2016 compared to the same month in 2015, new data from the country’s National Institute of Statistics (INE) reveals…
While some of Spain’s less-heralded regions have often posted flat growth or the occasional sales decline, November’s clean-sweep of growth was a timely reminder of just how well the Spanish property market performed in 2016.
The overall number of properties sold that month was 17.3% higher than in November 2015, reaching 33,806.
As ever, the pace of growth was mixed across the country, with Balearic home sales increasing 32.8% in the space of a year, followed by a 26.3% increase in the Canary Islands and plus 25% growth in both Aragon and Asturias.
Viewed across the 11 months of 2016 up to November 30, the INE data also showed a 14.16% increase in sales activity compared to the same period in 2015, with 372,000 homes changing hands during that time.
November’s data is little different to most of the preceding months. Property sales in Spain have been rising month-by-month for nigh-on 26 straight months, bar the occasional blip.
This steady recovery in fortunes is a great demonstration of the confidence that now exists throughout the sector – buoyed by both domestic demand and the ongoing desire for foreigners to own a second home in Spain.