Spain’s property boom continues. The latest figures – made available by both the Registradores de España and the Association of Notaries – show that, despite a slowdown in growth, we are still recording our best performance in a dozen years.
Best quarter in 15 years
Registradores de España has published a new quarterly report on the development of the property market in Spain. The data collected shows that more than 167,000 property sales contracts were registered in Spain between July and September 2022. During the last dozen years, a better result was only achieved in the third quarter of 2007! The published figures represent a quarter-on-quarter increase of 2.4 per cent, which should be considered a huge success – especially at a time of economic perturbations around the world.
Secondary market dominates
Secondary and primary market property sales statistics improved during Q3 2022 – recording increases of 2.4% and 2.6% respectively. This means that more than 139,000 secondary market contracts and 28,500 primary market transactions were registered between July and September. Thus, second-hand properties achieved the second highest result ever, second only to the first quarter of 2006, when the number of contracts concluded exceeded 140,000 transactions.
Source: Estadistica Registral Inmobiliara
Andalusia’s dominance maintained
In terms of the regionalisation of concluded contracts, nine Autonomous Communities recorded quarterly increases, compared to decreases in eight. The best results were achieved in Andalusia (34,608), Catalonia (26,966), the Community of Valencia (26,343) and the Community of Madrid (20,727), whose share of the total transactions carried out was, respectively: 20,61%, 16,06%, 15,69% i 12,35%. This means that one in five properties in Spain sold or bought in Q3 2022 was located in Andalusia!
Source: Estadistica Registral Inmobiliara
If we look at the individual provinces, we see that as many as twenty-nine recorded quarterly increases in the number of sales, compared to twenty-one with decreases. The highest number of transactions was recorded in Madrid (20,727), Barcelona (17,468), Alicante (13,486), Málaga (10,919), Valencia (9,995), Murcia (5,841) and Seville (5,601).
The figures published in 2022 indicate that, if nothing unexpected happens by the end of the year, the Spanish property market will boast its best sales results in years. Who knows, maybe they will even surpass the historic results achieved in 2006? We will know the answer soon enough.
