House purchases increase 13.7% annually in November

In November this year, a total of 28,733 transactions took place, which is several thousand more than a year ago.

The rise in property purchases has mainly been attributed to the strength of the re-sale market, with a greater number of people buying second-hand homes in Spain than before.

The 13.7% increase in the number of properties bought in November is an unexpected but very welcome result, bearing in mind that the annual rise in October 2015, the previous month, was only 2.7%.

With November’s excellent figure, this means that property purchases have continued to rise annually for the last 15 consecutive months.

During this month, purchases of re-sale properties went up by a massive 30.5%. Out of the total 28,733 transactions for November, 23,129 involved second-hand properties.

On the downside, however, the number of people that bought new builds dropped by a quarter, and was reduced to just 5,604 operations.

During the first 11 months of 2015, property sales went up by 11.5% from the same period for the year before. Broken down, sales of second-hand properties increased by 39.2%, but the purchase of new builds was reduced by 34.5%.

With regards to month-upon-month figures, property purchases rose 5.3% in November from October, which is the largest increase for November since 2011.

Source: www.antena3.com