The Spanish Institute for Statistics has collated the data for property sales, transfer and inheritances from the land registry for the month of September 2017.
The total number if transactions recorded at the Spanish land registry for September 2017 was over 135,000.
This figure represents an increase of 1.8% in comparison with September 2016.
The baulk of the transactions consist of purchase/sales with over 74,000 entries.
The next largest case of change in property ownership was those properties inherited at over 31,000.
The number of property donations or transfers was 2,795.
The remaining amendments to the land registry entries consist of land consolidations, repossessions and joint ventures etc.
The vast majority of property sales related to urban properties (86%) with the balance being rustic.
Property transactions by autonomous community were:
- Andalucía 22,493
- Comunidad Valenciana 18,494
- Cataluña 18,435
- Madrid 14,831
- Castilla y Leon 10,511
- Castilla La Mancha 8,104
- Galicia 6,937
- Aragón 5,496
- País Vasco 5,055
- Canaries 4,612
- Balearics 4,395
- Murcia 4,198
- Extremedura 3,184
- Asturias 2,795
- Navarra 2,217
- Cantabria 1,945
- La Rioja 1,336
The popular regions of Andalucía (+5.4%), Balearic Islands (+9.6%), Valencia (+3.1%) and Murcia (+6.3%) all experienced increases compared to September 2016.
Interestingly, Cataluña saw a 5% decrease in property transactions in comparison with 12 months previously.
This is perhaps a reflection of the current political turmoil in the region.
If you have decided to sell your property in Spain, we can assist you with each step of the process.
This can include reclaiming the 3% non resident tax retention.
Please visit our property sale page here.
If you would like a no obligation consultation with regards to any legal or tax matter in Spain, please contact us today.
GB Abogados offer free consultations on any matter.
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