Home sales are accelerating and are already up almost 10% this year.

PUBLISHED ON

Diciembre 18, 2024

CATEGORY

Real Estate

Home sales and purchases reached 515,810 real estate transactions up to September, an increase of 9.55% over the same period last year, when 470,851 transactions were recorded, according to the statistics on real estate transactions of the Ministry of Housing and Urban Agenda (MIVAU). 

Between July and September alone, 165,608 sales and purchases were registered, 16.4% more than in the same quarter of 2023, but 24,000 less than in the previous quarter, when there were 189,761 transactions.

The Ministry of Housing and Urban Agenda has indicated that this increase in transactions is due to an “increase in demand, as a consequence, among other things, of the relaxation of the monetary policy that is being transferred to credit”.

Likewise, he highlighted the “enormous” attractiveness of Spain for foreign investors and reiterated the Government's commitment to develop policies that increase the supply of affordable housing in Spain, with the aim of “guaranteeing the right to decent and adequate housing”.

Data by Autonomous Community

By Autonomous Community, in the first nine months of the year there were falls in only two Autonomous Communities: Navarra (-5.31%) and the Balearic Islands (-0.93%). In all the other regions, transactions increased, with particular growth in Ceuta and Melilla (+30.25%), La Rioja (+22.24%) and Asturias (+20.44%).
However, in absolute terms, Andalusia recorded the highest number of transactions in the first nine months of the year, with 100,747 transactions. It was followed by Valencia (83,424) and Catalonia (77,650).
In the third quarter of the year, the greatest advances were recorded in Ceuta and Melilla (+36.55%) and Asturias (+31.39%), while the only decline with respect to July and September 2023 was recorded in Navarra (-12.18%). In absolute values, the autonomous region with the most transactions was Andalusia, with 33,205 transactions.

Sales of used homes rise more than those of new construction

By type of housing, the sale and purchase of new homes reached 43,189 units in the first nine months of the year, which represents a slight 0.54% increase over the same period of the previous year and, in the third quarter alone, 13,492 transactions were recorded (+4.16%).
Meanwhile, second-hand housing transactions increased by 10.45% to 472,621 transactions. Between July and September alone, second-hand housing transactions rose to 152,116 units (+17.62%).