Property Transaction Data for July 2103

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The Institute of statistics in Spain released today the property transfer information for July.

The information is extracted from land registry. Given it can take up to 3 months for a property to be registered at land register it can be difficult to ascertain whether the information relates to what happened in July or earlier in the year.

Whilst overall the level of properties sold increased by 10.25 as of the same month in 2012 where this related to dwellings so residential properties the amount of property sold actually dropped by 5%.

By far the biggest increase year on year of property transfers relates to other titles which includes banks repossessing property. In this area the annual increase accumulated was 10.8%.

Sales of Rustica property as has been the trend all year showed another annual increase with dwellings registered as Urban showing a small decrease.

On the positive side the numbers of property sold above that of the month of June showed the highest month to month increase since 2010. This supports the anecdotal information within the sale market that activity is improving on property sales.

Resales continue to outstrip the sale of new properties with a decrease in sale of new builds of 11.1% in comparison to same month in 2012. This again could be a reflection that one of the larger areas of property transactions and growing is the transfer of property from a private individual to a Bank.

Sales of property numbered 58,490 in July and sales by other title totaled 53,261. Within other titles is included land consolidation, horizontal division and the level of transactions within each title is not specified but logically a large portion of the 53,261 will be foreclosures.

Residential sales of free housing continues to decline as does the sale of protected housing (VPO). This indicates that within the indigenous population buying of property remains at very low levels. Where activity appears to be happening at highest levels for sometime is within the purchase of property by foreign buyers.

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