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ARCHIVED - Spanish property sales figures down again in October
Figures fell in 10 of the 17 of the regions of Spain, Murcia one of the exceptions
This Friday saw the publication by the Spanish government’s central statistics unit of the residential property sales data for the month of October 2019, showing that the number of transactions was 1.5 per cent lower than in the same month last year at 42,825.
This follows two months of far sharper decreases in August and September, and appears to confirm that activity in the market has hit a ceiling and is suffering a downturn. Various factors may be contributing to this trend, including the continuing political uncertainty in Spain following the latest general election last month, the indications that unemployment figures have bottomed out and could start to rise and others including the slowdown of general economic growth, but whatever the causes the government figures for the last three months leave little room for doubt.
As ever, though, there is a good deal of disparity among the results reported in Spain’s 17 regions. The sharpest year-on-year decreases in October were those of 24.6 per cent in Navarra, 13.4 per cent in Asturias and 9.2 per cent in the Canaries, while at the other end of the scale were increases of 8 per cent in Castilla-La Mancha and 7.9 per cent in the Basque Country.
Unusually, the region with most sales per 100,000 inhabitants of property-buying age during October was not the Comunidad Valenciana but La Rioja, with a figure of 153, while third on the list (after Valencia) was the Region of Murcia with 134.
As a result of the recent monthly decreases the overall total of sales registered in the first 10 months of 2019 is 3.1 per cent lower than at the same point last year at 427,638, while the running 12-monthly total is 2.2 per cent lower than a year ago at a little over 503,600. Taking an even longer view, though, the extent to which the real estate sector in Spain has recovered is such that the level of sales activity is 71.6 per cent higher than when the market bottomed out in February 2014.
To view a wide range of properties for sale across Spain consult the Spanish property page.
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