According to Premier Marbella news sources, property sales increased by 6.8% in March. With this rebound, two months of year-on-year increases are linked after rising 5.3% in February. The sale of homes rose by 6.8% last March in relation to the same month of 2018, to add 42,649 operations, as reported by the National Institute of Statistics (INE) on Tuesday.
The advance registered in March was a consequence of the increase in new home operations by 14.6%, up to 8,045 transactions, and of an increase of 5.2% in the purchase and sale of used homes, to 34,604 operations. 90.2% of the properties transmitted by sale in the third month of the year were free dwellings and 9.8% state protected status. The sale of free dwellings increased by 7.4% in March in inter annual rate, to total 38,464 transactions, while operations on sheltered housing advanced by 1.9%, with 4,185 transactions.
Andalucia Property Sales Leader
In monthly terms (March on February), the sale of homes fell by 2.4%, in contrast to the fall of 3.8% experienced in March 2018. Last March, the highest number of home sales per 100,000 inhabitants occurred in Comunidad Valenciana (151), Andalucia (135) and La Rioja (134). Andalucia was the region that carried out most operations on housing in the third month of the year, with 8,915 purchases, followed by Catalonia (6,904), Madrid (6,233) and Comunidad Valenciana (5,920).
The greatest inter annual advances in the purchase and sale of homes were registered in La Rioja (+ 44.5%), Cantabria (+ 27.8%) and Castilla-La Mancha (+ 23.8%). On the other hand, the sharpest decreases were experienced in the Canary Islands (-10.1%) and Asturias (-8%).
The total number of properties transferred increased by 21%. Adding rural and urban properties (housing and other buildings of an urban nature), the farms transmitted last March reached 192,329, a figure 21.3% higher than that registered in the same month of 2018. By purchase and sale, 8.6% more farms were transferred than in March 2018, while donation transmissions increased 17.2% and those transferred by swap increased by 34.6%. On the other hand, operations by inheritance increased by 2.8%.
Leading Marbella property specialist Romano Keogh commenting on the property sales boom said that INE (National Institute of Statistics) data released shows, the number of purchases of rural properties increased by 8.1% in March, to a total of 13,537 operations, while the purchases of urban properties, including homes, increased by 8.7% , up to 75,655 operations. In March, the highest number of properties transactions per 100,000 inhabitants occurred in La Rioja (994), Castilla-La Mancha (826) and Castilla y León (782).
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