9 Jun, 2021 @ 09:15
1 min read

FORGET COVID! House sales in Spain show early boom signs coupled with rising prices in holiday hotspots

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HOUSE sales in April were higher than in the same month in 2019, according to figures from Spain’s College of Registrars.

A separate survey shows that May’s prices rose by 1.3% over 12 months.

It’s significant news that the property market appears to be recovering after last year’s pandemic problems, with some extra ‘pent-up’ demand as a bonus.

The Registrar figures, which reflect real estate transactions, show April’s property sales as being unsurprisingly 91% higher than a year earlier, when the State of Alarm lockdown largely put paid to any business.

The surprise though was that April sales clocked in 3.1% higher than two years earlier, and new home mortgages were up by 8.8% over the same two year period.

Overall real estate transactions, including commercial premises, grew by 9.3% compared to April 2019.

As for prices, the latest Tinsa survey showed that May’s average property price rose by 1.3% compared to a year earlier.

The increase from between April and May was 0.5%.

The biggest annual rises were on the Balearic and Canary Islands at 4.6%, followed by the Mediterranean coast with 3.2%.

The pandemic effects of people wanting to look away from large cities appears to be continuing. The Tinsa report says that the annual price hike for major urban centres was just 0.4%.

READ MORE PROPERTY SALES IN SPAIN AND EUROPE ON VERGE OF BOOM

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