The market is revitalized

 

There were 403,900 housing operations in 2016, the third consecutive annual increase. The second-hand market is the engine of the market.

More than a thousand houses a day were sold in 2016. A market success: with this increase, since 2013, housing sales have improved by almost 30%. Although the breathing sector is far from the 775,000 homes in 2007.

With INE figures, the rebound in transactions in 2016 was mainly due to the growth experienced by used housing. New housing is down almost two points from last year.

The investment in the market is oriented to the purchase of used housing, empty housing in tourist real estate (from apartments to hotels). The decline of new housing and the growth of the used one is having a notable collateral effect: the growth of rents, with an investment return close to 4%. Another not less important is the existence of a demand for unsatisfied housing that seems to be produced, especially in Andalusia and Catalonia.

The market data

The purchase and sale of housing has grown by 13.6% in 2016 over the previous year. According to the Statistics of Property Rights Transfer (ETDP) made public this Friday by the National Institute of Statistics (INE), 403,866 operations have been registered in the property records, the highest figure since 2010.

With respect to December data, in the last month of the year, 29,582 operations were carried out, with which the sale reached a year-on-year increase of 6.8%. However, in monthly variation, this figure represents a negative evolution of 12.5% ​​with respect to November. In November, 33,806 operations were managed.

The accumulated annual percentage of this last year supposes the greater rebound since the outbreak of the economic crisis. However, it is still far from the number of homes registered in 2007, just before the recession began, records totaled 56,188 homes.

Second-hand and free-leading operations

The second-hand market is the one that makes, once again, advance sales in 2016. 81.3% of the homes transmitted by sale in that month were used (328,248), compared to 18.7% of new homes (75,618). Compared with the same period of 2015, new construction fell by 1.7% and chain seven years down, second hand grew by 17.8% and add up to four years of growth.

89.7% of the homes transmitted by purchase and sale in 2016 were free and 10.3% protected. In interannual terms, they increased by 13.5% and 14.5% respectively.

(Estrella Digital)

 

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