Spanish property market records 11% sales increase in September

September’s stats brought yet more proof that the country’s property market is in rude health.

The monthly data published by Spain’s National Statistics Institute (INE) has, for the past few years, been hotly anticipated by the Spanish property market largely because it has served as a monthly reminder of the positivity and growth inherent in the sector…

These trends have been evident for at least 24 months straight now, and the latest statistics for September are a continuation of this growth. The INE data shows that 38,610 properties were bought in Spain in September, which is an 11% increase on the number of homes sold in September 2016.

Taken collectively as the first nine months of the year, 2017’s sales data represents the eighth year-on-year increase in property transactions, which serves as further indication that the industry regained its confidence long ago.

While this year’s overall sales volume of 354,000 (13.7% higher than last year) is still far below the heights seen in 2007, the numbers compare favourably to other strong property markets in Europe, particularly when one considers that 16 of the country’s 17 autonomous regions recorded annual growth; only Navarra saw a decrease, and a minimal one at that, falling just 2.7%.

The busiest region in September was in Comunidad Valenciana, where 153 sales per 100,000 inhabitants were recorded, followed by the Balearic Islands (143).

Compared to the 12 months between September 2015 and 2016, the latest 12-month period has recorded a 13% in sales, reaching 447,162 over the 365 days between the two Septembers.

August this year saw a 16% increase on sales compared to the same month in 2016.