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The purchase of homes is soaring in our country

  • 2 years ago
  • 1

The purchase and sale of homes shot up 16.2% in July, with 45,900 transactions. Since the beginning of this year, the purchase and sale of homes has increased by 11.7%, a percentage that stands at 12% in the case of used homes and 11.6% for new homes, according to data from the National Statistics Institute (INE).

Furthermore, the number of transactions recorded in July has also increased, specifically 2.7% more than in June, when 44,700 homes were sold. Thus, in July, 83.1% of the homes transferred were second-hand (38,120, up 17.2%). The purchase and sale of second-hand homes has increased at an annual rate in 51 of the last 53 months. On the other hand, 16.9% of the remaining homes were new, specifically 7,780, 11.4% more, and 4 months on the rise. It is important to point out that 90.5% of the homes transferred by purchase and sale during the month of July were free (41,545, 16.2% more) and 9.5% were protected, i.e. 4,355, 16.2% more.

What is the situation by Autonomous Communities?

In this respect, the purchase and sale of homes increased in July in all of the autonomous communities I am referring to in the Canary Islands and La Rioja. It grew in double figures, except for Catalonia, as it added a lower increase of 4.4%, well below the national average.

The best results were obtained in Aragon with 32%, Galicia with 28.6%, Castilla La Mancha with 27.1% and the Valencian Community with 25.7%.

Analysis of the number of sales in the Autonomous Communities

Most of the sales were made in Andalusia with a total of 8,730, Catalonia with 7,460, Valencia with 7,251 and Madrid with 7,028. The purchase and sale of registered properties amounted to 89,092 operations, with an annual increase of 13.5%, while donations increased by 28% to 3,559, exchanges by 70.1% to 682 and inheritances by 10.5% to 37,581.

From the Spanish Banking Association (AEB), they stressed: “All these data show how deeply rooted the culture of home ownership is in Spain and the good functioning of the mortgage market that makes it possible”.

On the other hand, the reasons for this increase are the improvement in the economic context and the positive outlook for the sector, although the data are far from the highs recorded during the housing boom.

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