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The purchase and sale of housing registered a year-on-year growth of +13.5% during 2016

Posted by on 27/02/2017

The monthly statistics published by the General Council of Notaries indicate that the purchase and sale of housing registered a year-on-year expansion of 13.5% (14.8% in seasonally adjusted terms) in 2016 and that the price of m2 of homes sold in the year was Of € 1,309, an increase of 2.4% year-on-year.

With the latest data available for the month of December, the real estate market completes an exercise marked by the recovery of monthly figures, both in terms of quantities and prices, notaries explain.

The number of housing sales increased to 458,781 operations. This increase increases to +14.8% if we consider the series corrected for seasonal effects. The increase in the number of sales was divided between the increase in home sales floor (+13.3%), the increase in sales of single-family homes (+14.3%) and the sale of other properties (+12, 9% year-on-year).

In the case of flats, second hand buying and selling showed an increase of +16.1%, compared to the contraction experienced by the purchase of new flats with a – 7.6%.

In terms of average price, the m2 of homes purchased in 2016 was € 1,309, reflecting an increase of + 2.4% year-on-year. This increase in the price of m2 of housing is due both to the increase in floor prices (+2.9% year-on-year) and to the increase in single-family housing (+ 1.0% year-on-year). Among the floors, the second-hand m2 stood at € 1,431 (+3.5% year-on-year) and new floor space was € 1,827 (+4.9% year-on-year).

As a result, the Spanish real estate market consolidated the growth path observed since 2014. For the first months of 2017, market figures are expected to continue with the growth path observed in 2016, they conclude.

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