2015 Saw A Rise in Spanish Property Sales

INEAs mentioned in a previous article, 2015 saw record numbers of tourists hitting the beaches and towns around Spain. The tourists, however, are not the only ones still hitting Spain in large numbers; the figures for 2015 property transfers also show an increase hinting that buyer confidence is on the increase and property sales are once again on the up.

In the annual figures released by the INE (Instituto Nacional de Estadísticas) Spain registered a 4.6% increase in property transfers for the year 2015, over the previous year, with a total of 1,634,670 transfers.

This breaks down as follows:

  • 378,630 Rustic Properties
  • 716,835 Urban Dwellings
  • 69,457 Urban Plots
  • 469,748 Other Urban Properties

Of the total property transfers 753.598 were from purchases, representing an increase of 8.1% over the previous year.

In terms of the type of property purchased, 83.2% corresponded to urban properties, an increase of 8.4%, and 16.8% to rustic property, an increase of 6.5%.

Of the total, 22% of property sales were for new buildings while resale properties made up the remaining 78%. For new homes this represents a decrease of 33.7%, while used property sales increased by 37.2%, compared to 2014.

By Region

As expected, Andalucia leads the way in terms of numbers registering 272,000 property transfers in 2015, an increase of 8.7% over 2014. They were followed close behind by Cataluña with 229,463 (a 3.25% increase) and Valencia with 209,819 sales, an increase of 4.2% over 2014.

The only region to record a negative annual variation was Castilla – La Mancha, which recorded only 103,776 transfers of deed, a variation of -0.8% compared to 2014.

The largest gain was in La Rioja, which, while only registering 20,015 transfers, achieved an increase over 2014 of 18%.

When looking at total propertiers sold the winning region was País Vasco with 13,770 sales which represents a massive 17.2% increase over 2014. On this measure Andalucia still did very well registering 70,739 sales, a 10.6% increase, while Cataluña and Valencia also did well recording increases of 14% and 11.3% respectively.

You can see the full report here.

Long term unemployment up 43% in 2011

INEThe number of people that have been unemployed for three years or more increased 43.0% in 2011, according to new figures released by the National Statistics Institute (INE).

Most Spanish workers had a boss but no subordinates in the year 2011. According to the results of the subsample variables of the Economically Active Population Survey, seven out of 10 workers were in this situation, since they had jobs as employees (with a boss and without subordinates).

9.9% of the total employed persons in 2011 were independent workers (without a boss or subordinates); 6.6% were managers; 7.0% were directors of small companies, departments or branches; 5.7% were middle managers, and 0.8% were directors of large or medium-sized companies.

The percentage of employees remained the same with regard to 2010, that is, at 69.8%, whereas the percentage of managers decreased two tenths.

By sex, the percentage of male directors at least doubled the percentage of female directors, in all company sizes. In the case of the employee job, the percentage of women (77.6%) exceeded the percentage of men (63.4%).

Working conditions

92.6% of the persons employed in 2011 did not work any day in their home. 2.7% did so occasionally, and 4.0% worked from home on over half of their working days.

One in three persons (35.0%) worked at least one Saturday per month, one tenth more than in 2010. For 62.5% of employed persons, Saturday was not part of their working week in 2011.

Working on Sundays was again less customary. 78.6% of employed persons did not work any Sunday. In turn, 4.3% worked one Sunday a month (two tenths more than the previous year) and 15.9% two or more Sundays (five tenths more).

12.2% of employed persons worked the night shift (11.6% in 2010). 6.1% did so occasionally, and 6.1% on more than half of their working days. The percentage of male night shift workers (14.6%) surpassed the number of female night shift workers (9.3%).

Considering the type of hiring, the percentage of wage earners hired though a temporary employment agency (TEA) decreased from 3.0% to 2.7% in 2011, whilst 2.5% found employment through the intermediation of a public employment office (one tenth more than in 2010).

Dependency

A total of 359,500 persons worked part-time, for the purpose of having more time available to care for dependent persons in the year 2011, which were 0.6% less than in 2010.

Almost the entirety of those working part-time, in order to simultaneously work as carers, were women. 55.9% of them were of the opinion that there were not adequate services for caring for dependants, or they were unable to afford them.

Unemployed persons

The majority of unemployed persons were previously employed. In fact, for 52.1% of them, the main reason for having stopped working in the year 2011 was the end of the contract.

The number of unemployed persons who left their last job three or more years ago increased 43.0%, reaching 704,900. This figure accounted for 15.4% of the total unemployed persons, 3.9 points higher than in 2010.

You can download the full report here: Economically Active Population Survey – Subsample variables Year 2011

Property sales figures still falling

INEThe Instituto Nacional Estadística (INE) have released data showing the number of property transfers decreased 8.7%, compared to February 2011.

The number of property transfers recorded in the land registries, from public deeds previously registered, was 150,422 in February, that is, 8.7% less than for the same month in 2011, and 0.5% lower than in January 2012.

In the case of registered merchantings of property, the number of transfers was 67,217, representing an interannual decrease of 22.7%, and a decrease of 6.2%, as compared with the previous month.

Merchantings recorded in the land registries 

85.9% of the registered merchantings corresponded to urban properties and 14.1% to rustic properties. Among the urban properties, 53.2% were merchantings of dwellings.

The number of merchantings of rustic properties increased 9.5% in the interannual rate in February, while that of urban properties decreased 26.2%. Within the latter, merchantings of dwellings decreased 31.8%.

Registered merchantings of dwellings, by protection system and status 

85.6% of transfers of dwellings by merchanting in February were free housing, and 14.4% were protected housing. In interannual terms, the number of transfers of free dwellings by merchanting decreased 32.4% and that of protected dwellings decreased 28.6%.

53.5% of the dwellings transferred by merchanting in February were new, and 46.5% were used. The number of transactions on new dwellings decreased 26.5%, and the number of used dwellings decreased 37.1%, as compared with February 2011.

Geographical distribution

In February 2012, the total number of property transfers recorded in the land registries per 100,000 inhabitants¹ was highest in the Autonomous Communities of Castilla y León (642), Aragón (636) and Castilla-La Mancha (635).

In Andalucía there were 21,380 property transfers recorded in the land registries. This represents 322 transfers per 100,000 inhabitants¹. This can be further broken down by property type. Of the total transfers 3,548 were rustic properties, 10,413 were urban dwellings, and 1,267 plots. “Other urban properties” made up the remaining 6,152.

The Autonomous Communities showing the highest number of registered merchantings of property per 100,000 inhabitants¹ were La Rioja (273) and Castilla-La Mancha (261).

By registered merchantings of dwellings, the Autonomous Communities in which the number of transfers per 100,000 inhabitants¹ was highest was Illes Balears (104).

59.5% of merchantings of dwellings in February 2012 were recorded in four Autonomous Communities: Andalucía, Cataluña, Comunidad de Madrid and Comunitat Valenciana.

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

GDP registered a fourth quarter increase

INEThe Instituto Nacional de Estadística (National Statistics Institute) have released an advanced estimate of the quarterly national accounts.

The report shows that during the fourth quarter of 2011 GDP generated by the Spanish economy registered a real increase of 0.3%, compared with the same period of the previous year.

Although Q4 showed a decrease in domestic demand, this was partly compensated by the increase in foreign demand that grew as compared with the previous quarter.

The quarter-on-quarter GDP growth was -0.3%, as compared with 0.0% for the previous quarter.

By temporary aggregation of the four quarters, the real growth in GDP in the whole of the year 2011 was estimated at 0.7%.

Although this advanced estimate uses the same methodology as that employed in the compilation of the complete estimate, these figures are provided only as a guideline.

The INE will publish the complete tables and charts of the Spanish Quarterly National Accounts for the Fourth quarter of 2011, on 16 February.

You can download the INE report here: Advance Estimate of the Quarterly National Accounts.