June home sales rise 19% in Spain compared to last year

Data from Spain’s Land Register has revealed that 39,625 residential property sales were recorded in the country in June – a figure that is 19% higher than for the same month last year.

These figures differ from those recorded by other metrics because they measure the number of properties actually registered with the government, rather than the number of sales that took place in June…

According to Spanish property expert Mark Stücklin, the data lag is usually around two months, meaning that the majority of the 39,625 sales probably took place in April, meaning there could well be further rises on the cards over the next couple of months because summer is prime property-buying time.

By whichever metric is used, Stücklin added that monthly home sales in Spain have risen on an annualised basis almost every month since March 2014. In April this year there was a slight blip of 8% against April 2016, but otherwise the trend is evidently clear.

“I also expect new home sales to maintain a growth trend for the next few years, as off-plan sales lead to completions that show up in the official figures,” Stücklin said.

Property sales in the Costa del Sol increased by an average of 12% in June compared to last summer. While this figure is lower than the national average, Stücklin believes this can mostly be related to the fact that the recovery was initially strongest in the Málaga province, and that now the rest of Spain is performing well, it is only natural that other markets would catch up.