The sale of homes by private customers rose

The sale of homes by private customers rose nearly 20 points in June

The real estate sector In Spain continues to improve its forecasts and now enjoys five consecutive months of increases compared to the same period of 2015

Private clients are in luck: home sales rose 19.4% last June compared to the same month in 2015 and 36,895 operations were performed, according to the Spanish National Statistics Institute (INE).

These figures represent five consecutive months of increases and is due to increased sales in both the second hand housing market as well as of new housing.

Specifically, transactions of second hand homes have risen 24%, with 30,270 operations, while in the case of new housing the increase is not so intense: 2%, with a total of 6,586 operations.

The Spanish National Statistics Institute also reported the type of housing that is benefitting from this situation. Specifically, 90.6% of homes sold in this period were free-market houses while the remaining 9.4% appertain to State subsidized housing. Thus, the sale of free housing rose 20.6% year on year (33,950 operations), while in the case of social housing they were up 9.2% (3,466 operations).

Finally, good news continues for private customers, taking into account that the real estate market in the first six months of 2016 has improved its forecast because sales of homes accumulate an increase of 16.4% compared to the first half of 2015.

The main cause of this rise is the fact that there has been an increase in sale operations of existing homes which has reached 22.2%, although the number of transactions involving new housing has fallen by 2.5%.

This data helps clear up the uncertainty in the real estate sector, the most affected by the severe economic crisis of recent years in Spain. These figures relate to the mortgage market and show that private clients will now be able to access the property market in Spain with increased guarantees of profitability.

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Del Canto Chambers’ Editorial Board

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