The year could not begin better for the Spanish residential market. In January 38,457 homes changed hands, a figure that had not been recorded for four years when 39,920 operations were closed in the same month of 2013. The market thus points to an increase in the number of sales and sales of 18.1% over the same period of the previous year. The monthly variation (January over December of the previous year) accelerated to 30%, according to the National Statistics Institute (INE). The housing market continues its recovery and chains 12 consecutive months in positive year-on-year rate. Last year closed with the sale of 403,866, 13.6% than a year earlier.
"The closing of 2016 and the first steps of 2017 are data that encourage us to be reasonably optimistic for this new exercise. The recovery of the economy, mortgages at competitive prices and the investment appetite to put product in the rental market are the Main causes of this growth, "says Fernando Encinar, head of studies at Idealista.
The first month of the year set another record figure, since January 2008 did not buy as many second-hand homes: 31,628 units, 20.7% more than in the same period of the previous year. The second hand again boosts the growth of the Spanish real estate sector and, in fact, in January eight out of ten homes sold was used. Although it is necessary to take into account that in order to elaborate its statistic the INE considers that the new homes without selling with two years old are also second-hand. In addition, the new building sold by the banks is also being used.
The new one is gaining positions, although at a more leisurely pace. 17.8% of the homes transmitted by sale in January were new (6,829) and the number of operations rose by 7.2%. This difference will be shortened throughout 2017 as a result of the greater promotional activity that has been known in 2016. "In large cities such as Madrid and Barcelona there is a deficit of new housing and in 2016 there has been an increase in the purchase on flat Which will be transferred to official statistics throughout this year, "says Beatriz Toribio, head of studies at Fotocasa. In fact, in the monthly data, new housing shows an increase of 31.6% compared to 29.7% of used housing.
With respect to the protection regime, 89.8% of homes registered in January were free, with 34,544 units and a year-on-year growth of 17.9%. For its part, official protection increased by 19.5% and accumulated 3,913 transactions.
The purchase and sale of housing grew in all autonomous communities, except in the Canary Islands where operations fell 0.5%. The regions with the highest annual rates of house purchase were Cantabria (45.1%), Balearic Islands (40.5%) and La Rioja (40.1%). Andalusia (6,776), Catalonia (6,752), Madrid (5,818) and Valencia (5,248) accounted for more than 60%.
Although the consolidation of the expansionary cycle of the sector is becoming more palpable, "we must keep in mind that this growth is normal for operations closed at the end of the year. Do not rule out a slight drop in the monthly variation, "says Manuel Gandarias, director of the Studies Office of pisos.com.