Sales in Spain hit new record: 500,000 real estate transactions in 2021

Sales in Spain hit new record: 500,000 real estate transactions in 2021

Ferrand Font, Real Estate Research Specialist, stresses: “Positive growth will continue through new measures to combat COVID-19, the introduction of a vaccination plan, including through the implementation of the new Housing Act, which will be implemented by the end of the year, and support from Next Foundations Generation”.

A new statistics report on housing, published by the National Institute of Statistics (INE), provided national data on the dynamics of house sales and purchases recorded in July.

Research Director Ferrand Font also reports that: “The numbers began to bounce back since their peak in May 2020 gradually, and already in July 2021 exceeded 50,000 transactions per month.

This success was the first breakthrough in the market since 2008. Although growth is slowing year-on-year, it still exceeds 50% (5% compared to 2019). The analysis of the last 12 months shows a total growth of 34%. The expert emphasises that the new record exceeded 500,000 transactions per calendar year, which is in line with the pre-pandemic levels,” expert emphasises.

Sales of new and resale real estate sales continue to grow rapidly, although this resale with 81% of the total showed the most significant growth over the past two months.

Geographically, sales were divided as follows:

  • Andalusia showed the most significant number of transactions - over 10,000;
  • Catalonia and Madrid - over 7,000 transactions;
  • Navarra and La Rioja are at the bottom with less than 500 trades in July.

One way or another, compared to last year, growth was observed in all regions, except for the Basque Country, where after 5 months of growth there was a decline again. Compared to 2019, national growth is 24%; in the most critical markets in Andalusia and Madrid, it is approaching 10%, while in Catalonia, it is less than 1%.

At the end of his message, Ferran Font summed up the situation on the sale and purchase market in Spain: “The positive trend will continue due to the possible impact of COVID-19 and the vaccination plan, the implementation of a new housing law by the end of the year, as well as the receipt and management of new generation funds”.

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