1 in 5 Spanish homes were bought in Andalucía in Q2 2018

Almost 20% of Spanish homes were bought in Andalucía, home of the Costa del Sol, last quarter.

Data from the Spanish Registrars Association was announced earlier this week regarding property transactions between April and June and, as in the first quarter of 2018, Andalucía is the heaviest contributor of any region in the entire peninsula…

Andalucía – home to the Costa del Sol, of course – registered 26,487 of a total 134,196 property sales nationwide in the second quarter, which represents almost 20% of Spain’s residential purchasing activity: eclipsing the regions of Valencia, Cataluña and Madrid in the process.

Interestingly, this 1 in 5 proportion is almost exactly represented in the percentage breakdowns for new build and resale properties, which are 19.2% and 19.8% of the national totals, respectively, indicating that Andalucía is home to an extremely healthy balance of the two categories of real estate.

Going back to the nationwide total of 134,196 quarterly home purchases, this figure is incredibly significant. Besides being 4% higher than Q1 2018 and a mammoth 12.4% greater than the same period last year, no quarterly sales volume has surpassed this level since the second quarter of 2008.

In other news, property prices in Spain also increased in the second quarter of this year. According to the Spanish Registrars Association, the average home value was a massive 10.7% higher compared to Q2 2017.

Now the gap between the current and all-time high property prices – achieved in 2007 – has closed even more to just 16.9%, with monthly year-on-year increases being seen repeatedly in recent times.