House sales in Spain most high in 13 years

Oct 5, 2021. Since April 2008, not as many houses have been given a new owner in one month in Spain as in July this year. This was reported by the Spanish statistical office INE Instituto Nacional de Estadística. This concerned 50,258 purchases, of which approximately 19% was new construction.

Strong growth has been observed for 5 consecutive months. The Spanish real estate sector is strong and is at the forefront of the country’s economic recovery, according to Maria Marie of Fotocasa. Figures are also better than 2019, the year before the covid pandemic.

Quality of living.

The main reasons for the strong development of the market for Spanish houses are the increased solvency of Spanish families, but also the strongly increased demand for homes with more space, more access to the ‘outside’, with a larger garden or balcony. The latter would contribute to the strong increase in interest in new-build homes.

The extreme increase in the number of residential transactions also brings dangers, according to Franciso Inareta of Idealista: a further increase in demand will lead in the short term to prices that are still realistic in the long term.

 

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