The Spanish Institute for National Statistics (INE) have released the figures for the transfer of ownership of properties throughout Spain for January 2018.
The total amount of transactions during January 2018 was 176,911.
This represents an increase of 13.2% in comparison with January 2017. More impressive is the fact that January 2018, traditionally a quiet month, was busier than any month throughout entire 2017.
The total figure can be broken down as follows;
- Property sales: 94,060
- Inheritance: 38,365
- Donation: 3,837
- Swaps: 517
- Other (consolidation, repossessions etc.): 40,132
In particular the number of property sales so early in the year, point to a potentially busy year in the property sector in Spain.
This is a further reflection of much improved market conditions in Spain.
The majority of property sales related to urban property, just over 80,000, with rustic properties accounting for over 13,000 sales.
The regions with the most transactions at the registry were:
- Andalucía: 28,946
- Cataluña: 24,626
- Comunidad Valenciana: 23,438
- Madrid: 19,907
- Castilla y León: 13,880
- Castilla – La Mancha 10,384
The first quarter of 2018 has been especially busy in the property market in Spain.
GB Abogados conveyancing and probate departments have experienced a busier start to the year than for many previous years.
If you are considering purchasing a property in Spain please visit our conveyancing page for full details of our service.
Prior to Brexit many of our UK clients have been donating their property in Spain to their children.
This was potentially significant tax savings in comparison with the likely situation post Brexit. You can read more about this service here.
If you have a mortgage on your property in Spain and are struggling to meet the payments, it is likely we can assist. We have several years experience of negotiating with the banks in Spain to return the property and cancel the mortgage. Find out more here.
If you would like to discuss any property related matter, please don´t hesitate to contact us today.
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