Apartments sale in the province of Cadiz is not just within the norm; it is out of the norm, as it reaches the levels of business activity observed only before the financial crisis of 2008 when the real estate bubble finally burst.
If 2021 started with a good pace of sales, which was knocked down at the beginning of the summer, now September is reaching record levels according to the latest data released by INE. Sales remain ahead of 2020 and 2019 when the pre-pandemic economic recovery was strong.
The published numbers are positive for both new housing and the secondary market, although the latter continues to lead the province.
Thus, 1,712 purchase and sale transactions were concluded in September last year. Four hundred fifty-seven apartments were new, and the remaining 1,255 were secondary.
In the first case, this figure is twice 2020 - only 218, and in the second - 746 transactions. However, they also significantly exceed the figure for the sector in 2019: 304 and 760 apartments sold, depending on the transaction type.
The results were similar in the transactions volume in June 2008, when 2,262 sales and purchases were made. In June 2021, more new apartments were sold in the province - 503 units.
Considering all these indicators, Cadiz became the eighth province of Spain regarding the number of real estate transactions in September.
According to research published by INE, total sales continue to rise. It includes all housing transactions, as well as transactions related to the sale and purchase of land and rural real estate, donation (38), real estate exchange (4) and inheritance (204).
It brings the total number of transactions in the province to 4,112. It is the best month this year since June, when 4,458 transactions were registered, and is significantly higher than in September in previous years.
Similar results were recorded except in 2007 - 4,525 total number of transactions.
Over the past 15 years, March 2007 was the most significant number of transactions, reaching 5,370. The sector is now striving to break this record.