June sees 20% rise in property transactions compared to last year

Resale apartments enjoyed a strong June, with transactions increasing by more than 25% compared to 2014.

Spain’s National Statistics Institute (INE) has just published its data for June, revealing that the number of properties to change hands that month rose by 19.4 per cent compared to the same month in 2014.

In total there were 37,641 properties bought and sold in June this year, continuing the trend that has seen the number of transactions increase each month for the past five months…

This data is further proof of Spain’s recovering economy and strengthening property market, and also points to a stabilization of property prices nationwide. While some popular regions have seen price increases since late 2013 – especially the Costa del Sol – some regions of Spain had still been experiencing price falls.

Now, however, average prices are down just 0.3 per cent nationwide compared to June 2014, which is a slowing of price decreases that suggests 2015 may well end with national prices actually on the rise once more.

Resale properties continue to dominate the market, accounting for 91.6 per cent of all transactions in June despite new build sales enjoying a 2.2 per cent increase that month compared to 2014. In particular, resale apartments enjoyed a strong June, with sales reaching 25,000 transactions – 25.2 per cent increase in the space of a year.

Mortgage approvals have also increased, with June seeing 16,002 home loans approved – a 31.8 per cent increase on June last year. The average mortgage amount has grown too, reaching €121,445 – an annual increase of 4.6 per cent.