Property sales decreased 12.8% in March

INEThe National Statistics Institute (INE) have released data showing the number of property transfers in March decreased 12.8%, compared to the same period in 20122.

The number of property transfers recorded in the land registries, from public deeds previously registered, was 146,303 in March, that is, 12.8% less than for the same month in 2011, and 2.7% lower than in February 2012.

In the case of registered merchantings of property, the number of transfers was 58,536, representing an interannual decrease of 20.0%, and a decrease of 12.9%, as compared with the previous month.

Merchantings recorded in the land registries

83.4% of the registered merchantings corresponded to urban properties and 16.6% to rustic properties. Among the urban properties, 52.1% were merchantings of dwellings.

The number of merchantings of rustic properties decreased 10.5% in the interannual rate in March, while that of urban properties decreased 21.7%. Within the latter, merchantings of dwellings decreased 22.7%.

Registered merchantings of dwellings, by protection system and status

86.7% of transfers of dwellings by merchanting in March were free housing, and 13.3% were protected housing. In interannual terms, the number of transfers of free dwellings by merchanting decreased 20.9% and that of protected dwellings decreased 32.8%.

47.9% of the dwellings transferred by merchanting in March were new, and 52.1% were used. The number of transactions on new dwellings decreased 24.3%, and the number of used dwellings decreased 21.3%, as compared with March 2011.

Geographical distribution

In March 2012, the total number of property transfers recorded in the land registries per 100,000 inhabitants¹ was highest in the Autonomous Communities of Extremadura (687), and La Rioja (640).

The Autonomous Communities showing the highest number of registered merchantings of property per 100,000 inhabitants¹ were La Rioja (278) and Castilla-La Mancha (253).

By registered merchantings of dwellings, the Autonomous Communities in which the number of transfers per 100,000 inhabitants¹ was highest were Canarias (87) and Comunidad Foral de Navarra (87).

58.4% of merchantings of dwellings in March 2012 were recorded in four Autonomous Communities: Andalucía, Comunidad de Madrid, Comunitat Valenciana and Cataluña.

You can download the full press release here: Statistics on Transfer of Property Rights – March 2012

¹ This data was calculated from the revision of the figures of the Municipal Register for the year 2011. Only the population aged 18 to 84 years old was considered.

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