News: Spanish property market races ahead, the latest data for 2018

Spanish property market races ahead, the latest data for 2018
Written by Inmo Investments - 18 Mar 2018

Costa Blanca property sales registrations outpace Madrid and Barcelona

Spanish property market registers 13.2% market growth

The Spanish property market continues it's unbridled strong growth, according to the latest available official data released earlier this week.

The provisional data was published on Wednesday by Spain's National Institute of Statistics (Instituto Nacional de Estadistica), part of the European Statistical System.

It shows growing numbers of property sales nationwide, with the Valencian Community and the Region of Murcia both showing a tenacious start to the 2018 financial year.

The month of January saw 176,911 homes sold across the country, a 13.2% increase from the 156,000 sold during the same period last year, with the country selling more properties in January 2018 than in any preceeding month during 2017.

Registrations of new build property sales increased by 23.5% across Spain nationally, with the new homes market accounting for 8.3% of all properties sold during January this year.

Real estate in Spain: stability and continued growth

Locally, the Costa Blanca region registered an increase of 13.8% in the number of property sales over the same period last year, with the Costa Calida underlining the robust figures with a 16.0% increase.

Both regions beat Madrid and Barcelona for total property sales, showing increases of 9.7% and 4.1% respectively, with Mallorca recording a nominal increase in property sale registrations of 0.6%.

Nationwide, only the Chartered Community of Navarre in Spain's northern territory showed a decline in property sales, recording 1.7% less property registrations than in the same period last year.

Sales registrations for the first month of 2018 are already outpacing official forecasts produced last year, which suggested an anticipated increase in sales of 9.3% nationwide throughout 2018.

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Please note: Inmo Investments is a registered Real Estate agency in Spain. We are not legally qualified solicitors, nor are we qualified to provide legal or financial advice, and this editorial publication is provided for information only based on existing publicly available information. We have taken every reasonable precaution to ensure the accuracy of the information, and the authority of the sources of information at the date of publication.


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