Andalusia has once again proved to be the region in Spain with the best performance in terms of residential property transactions. In the whole of 2021, more than 117,000 property purchases were made in its territory, which means that the region accounts for more than 20% of transactions in the whole country!
Andalusia towers over the other autonomous communities
Fourteen Autonomous Communities achieved quarterly decreases in property sales in Q4 2021, while increases were recorded for only three Autonomies. The highest number of property sales in the last three months of last year was recorded in Andalusia (31,325), Catalonia (22,108), the Community of Valencia (21,324) and the Community of Madrid (18,572).
Each of these regions contributed 21.76%, 15.35%, 14.81% and 12.90%, respectively, to the performance of the entire Spanish property market – a performance well above that of the other communities, which individually did not even achieve a 5% market share.
For the whole of 2021, a total of 564,569 property sales were registered, the highest in fourteen years, with a huge year-on-year increase of 34.5%.
More than 117,000 transactions out of the total pool fell to Andalusia which means that the region accounts for 20 per cent of the number of transactions carried out in the entire country! It is worth noting that Andalusia is the only one of all the Spanish autonomous communities to have surpassed the barrier of 100,000 transactions made in 2021:
- Andalusia – 117,000 transactions,
- Catalonia – 89 000,
- Autonomy of Madrid – 80 000,
- Valencian autonomy – 79 000,
- Castile and Leon – 24,000.
These figures vividly illustrate the huge interest in property in Andalusia, including on the Costa del Sol, from investors from both Spain and around the world.
Properties in the province of Malaga are in high demand
When analysing the quarterly statistics of registered transactions, broken down by the performance of each autonomy, declines in the numbers of sales made are also evident – performance deteriorated in 34 provinces while increasing in the remaining 16, of which twelve provinces had double-digit quarterly declines.
Nevertheless, the figures remain close to the maxima reached in past years. The provinces that registered the highest number of house sales in the last quarter were Madrid (18,572), Barcelona (14,021), Alicante (10,140) , Malaga (9,376 ), Valencia (8,568), Seville (5,975) and Murcia (5,051).
An analysis of the interim results shows that the Spanish property market performed outstandingly in 2021, with year-on-year double-digit increases in virtually all Spanish provinces. The provinces with the highest house sales in 2021 were Madrid (80,227), Barcelona (57,801), Alicante (36,246), Valencia (33,439), Malaga (33,098), Seville (22,042) and Murcia (19,561).
Primary market vs. secondary market in the province of Malaga
Over the course of 2021, more than 33,000 transactions have taken place in the province of Malaga (in which Marbella, among others, is located), placing it fifth in the list of the most popular provinces in Spain.
For the secondary market, all provinces recorded year-on-year increases in the number of transactions, with double-digit increases in forty-nine. The provinces with the highest number of secondary market properties sold in 2021 were Madrid (58,694), Barcelona (47,898), Alicante (30,745), Valencia (28,599), Málaga (24,922 ), Seville (17,750) and Murcia (16,115).
If we analyse the data achieved in the past 12 months in the primary market, we can see that forty-five provinces recorded year-on-year increases, with decreases in the remaining five. The provinces with the highest number of new property sales in Spain over the past twelve months are: Madrid (21,533), Barcelona (9,903), Málaga (8,176), Alicante (5,501) and Valencia (4,840).
All the data collected shows that the residential property market, despite a quarterly decline in the number of transactions, maintains an excellent performance – far surpassing that achieved in previous years.
What will 2022 be like?
The Colegio de Registradores’ prediction is that the number of transactions will manage to stay above the total number of 500,000 sales for the whole of 2022, with possible simultaneous slight decreases in each quarter. The key factors for the property market in the current year will be the evolution of prices, as well as factors related to the purchasing power of investors – both domestic and foreign.
Taking stock of the transactions completed in the first quarter of 2022 and the declarations of investors approaching Agnes Inversiones interested in buying property in Andalusia, it is expected that the ongoing year will be another record-breaking period for the region. Currently, the only factor that could slow down sales in the second half of the year is the potentially declining number of property listings on the market and the lack of new estate projects.
