According to the Spanish National Statistics Institute, the year-on-year sale of homes in Spain has increased by 2.2%. In 2014 there was a total of 319,389 transactions showing a positive turnaround after three years of declines.
The resale property market has seen the biggest year-on-year growth and after three years of continued declines, home sales transactions are showing positive results following property price adjustments. Since 2007 when property prices reached their peak, the average price of homes in Spain has fallen by some 41.6%, according to the IMIE General and Large Markets Index report published by Tinsa in February 2015.
The worst years for property sales in Spain were 2009 and 2008, when the volume dropped by -25.1% and -28.8%, respectively. In 2012 and 2011, property transactions in Spain still recorded double-digit declines, of 11.5% and 18.1%, respectively. In 2013 the decline was just 1.9%.
In 2014 there were some 199,943 property transactions, an increase of 18.4% over the previous year. Most of the property sales were of resale apartments. The new-build market showed a decline of 16.9% last year, or 119,446 property transactions.
Filed under: http://www.theleader.info/article/46408/
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