The sale of new homes marks a record figure in ten years after skyrocketing 20.8% year-on-year, to 11,528 sales
Last February, the sale and purchase of homes registered an increase of 5.8% compared to the same month in 2023, up to a total of 52,796 operations, as reported this Monday by the National Institute of Statistics (INE).
With the advance in February, home sales put an end to 12 consecutive months of year-on-year declines.
The year-on-year rebound in home sales in February has been due, above all, to the increase in transactions on new apartments, which grew by double digits. The sale of existing homes also increased, although at a more moderate pace.
Specifically, the purchase and sale of second-hand homes rose 2.2% year-on-year in February, totaling 41,268 transactions, while transactions carried out on new apartments skyrocketed by 20.8%, the highest rate since December 2021. up to a total of 11,528 operations, its highest number since January 2014.
92.9% of the homes transferred by sale in February were free homes and 7.1% were protected. In total, the purchase and sale of free homes increased by 6.7% year-on-year, to 49,033 transactions, while the purchase and sale of protected homes fell by 4.7%, to total 3,763 transactions, the lowest figure in a month of February since 2015.
In an inter-monthly rate (February over January), the sale of homes fell by 2.9%, while in the first two months of 2024 it has increased by 1.6%, with an advance of 11.8% in the case of new homes and a decline of 0.7% in used homes.
PURCHASES INCREASE IN 13 COMMUNITIES
By autonomous community and in absolute values, Andalusia was the region that carried out the most home sales during the second month of the year, with 9,606, followed by the Valencian Community (9,154), Catalonia (8,518) and Madrid (6,323).
Thirteen communities sold more homes in February than in the same month of 2023. The sharpest increases occurred in Navarra (50.6%), Galicia (38.4%) and Murcia (19.5%), while the most moderate They were for Madrid (0.4%) and the Basque Country (1.4%).
At the other extreme, four communities reduced home sales in February compared to the same month in 2023: Canary Islands (-12%), Balearic Islands (-10.3%), Andalusia (-1.5%) and Castilla y León ( -1%).
THE TOTAL PROPERTIES TRANSFERRED INCREASE BY 4.4%
The properties transmitted in the property registries, from public deeds carried out previously, reached 190,717 last February, 4.4% more than in the same month of 2023.
7% more properties were transferred through purchase and sale than a year before, while those transferred by donation fell 1.2% year-on-year; Those transmitted by inheritance decreased by 1.6%, and exchange operations fell by 3.9%.
87% of the sales in February corresponded to urban properties, which include homes, and 13% to rural properties. Sales of urban properties increased by 7.3% year-on-year, while those of rural properties increased by 5.3% compared to February 2023, totaling 91,799 and 13,666 transactions, respectively.
