Real Estate Saw a Slow Start to 2016

Spanish Property SalesWhile tourism numbers for January increased over the same month last year, we saw a slight drop in the number of Spanish property sales.

The total number of property transfers for January 2016 stood at 136,771, which is a 2.8% reduction from the same period last year.

In terms of property purchases the number is 66,959, representing a decrease of 4.1%.

Of the total number of purchased properties, 84.4% were urban properties, a decrease of 3.7%. Rustic property sales made up 15.6% of the total, representing a 6.2% decrease over the same period in 2015.

In the case of urban property sales, 57.4% were homes, a 2.9% fall.

Of the total sales, 19.5% of homes sold in January were new-build properties while resale property accounted for 80.5%. For new property the figure represents a fall of 28.9% while resale property sales increased 6.6%.

Sales by Autonomous Community

Of the 17 autonomous communities in Spain over half of them saw a drop in property sales in January with La Rioja seeing the biggest fall of over 25%, with only 227 registered sales. The largest gain in terms of annual variation was Navarra which registered an 18,4% increase in sales over January 2015, despite registering only 451 sales.

When looking at the number of sales per 100,000 inhabitants the winner was Valencia, with 113 registered sales. Following close behind was the Balearic Islands and the Canary Islands registering 108 and 101 sales per 100,000 inhabitants respectively.

The full breakdown of properties sold by region is as follows:

Region Number of Sales % Annual Variation
Andalusia 6,216 1.4
Aragon 959 8.9
Asturias 507 2.0
Balearic Islands 976 8.1
Canary Islands 1,748 -16.2
Cantabria 351 -3.3
Castilla and Leon 1,456 0.6
Castilla – La Mancha 1,216 17.9
Catalonia 5,099 -2.0
Valencia 4,444 -2.7
Extremadura 529 -10.6
Galicia 1,142 -7.5
Madrid 4,776 -12.8
Murcia 944 -1.8
Navarra 451 18.4
Basque Country 1,290 6.3
La Rioja 227 -25.3
Total 136,771 -2.9