Stunning October sees Spanish property sales soar 25%

The latest official data on Spanish property sales published by the National Statistics Institute (INE) shows that October recorded a 25% increase in transactions year-on-year: a stunning performance that is likely to bolster an-already confident sector…

According to the INE there were 37,228 home sales recorded this October, which is 25.7% higher than October in 2016 and the ninth time this year that monthly sales have been stronger in 2017 than they were last year.

The only fly in the ointment remains the month of April, which was distorted due to Easter arriving that month, whereas in 2016 it was in March (fewer homes are sold around the Easter holidays).

Regional variations do, as ever, paint an interesting picture, with the region of Catalonia showing the smallest year-on-year increase in the country. Across Catalonia in October sales were 12.4% higher than last year – while encouraging, this limited growth is likely related to the Catalonian independence crisis that destabilised the region that month.

Madrid, in contrast, saw a massive 50% increase in property sales – a supremely strong performance for the nation’s capital, while in terms of home sales-per-100,00 inhabitants, the Balearic Islands were the most popular region with 135 homes sold for every 100,000 people.