Residential Property Sales in the First Two Months of 2023 in Spain

Residential Property Sales in the First Two Months of 2023 in Spain

Recently published statistics reveal that in the first two months of 2023, 106,558 residential transactions were completed in Spain.

In January, the volume of purchase and sale transactions in Spain increased by 6.6% compared to January 2022 and amounted to 56,372. In February, 50,186 transactions were registered, which is 11% lower than in the previous month.

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Top and bottom locations

In January 2023, Andalusia saw the highest number of property sales transactions (11,773). The region-level data shows that the autonomous communities with the most registered property purchases were the Valencian Community (9,121), Catalonia (8,857), and the Community of Madrid (7,026). The largest declines were observed in La Rioja (-14.4%), Cantabria (-4.3%), and Galicia (-3.9%).

In February 2023, the number of property transactions increased exclusively in Asturias (by 1.5%), while the largest decrease occurred in Navarre (-29.0%), Balearic Islands (-22.2%), Canary Islands (-17.7%), Aragon (-17.4%), Andalusia (-17.3%), Catalonia (-16.2%), Madrid (-15.1%), Extremadura (-14.7%), and Murcia (-14.4%).

Residential Property Sales in the First Two Months of 2023 in Spain

Mortgage transactions: 58,026

The number of property mortgage loans in January 2023 amounted to 37,435, which is 2.88% higher than in the same month last year.

In February, 20,591 residential mortgages were taken out, which is 24.4% lower than in February last year.

Other transactions: 48,532

48,532 properties were purchased in the first two months of 2023 without a residential mortgage.

Primary property sales: 20,578

In January, the volume of new-build sales amounted to 10,871 transactions.

In February, 9,707 properties in new developments were purchased.

Secondary property sales: 85,980

In January, secondary property sales accounted for 80.7% of the total. There were 45,501 transactions, which is 6.2% higher than in January last year.

In the second month of the year, 40,479 secondary residential properties were sold.

Sales to foreigners

A significant increase in transactions with foreign nationals was recorded in Asturias (20.2%), the Canary Islands (15.3%), and the Valencian Community (13.5%).

Residential Property Sales in the First Two Months of 2023 in Spain

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