47 billion euro boost for Spanish property market

The Spanish housing market turned over 47 billion euros in 2014 after 3 years of declines

The Spanish housing market turned over 47 billion euros during 2015, a 22% increase on the previous year.

According to the Ministry of Housing, there were just over 347 thousand home sales in Spain last year, mainly in the regions of Madrid (9 billon euros), Catalunya (8.5 billion euros), Andalucia (8 billion euros) and the Community of Valencia (5.5 billion euros).

It represents the first increase in turnover after 3 years of declines.

Meanwhile the Housing department has also released figures showing positive figures for February sales. There were 26,451 sales across Spain in February, driven mainly by re-sale properties, which were 53% higher than in 2014.  Figures were particularly strong for Barcelona and the region of Catalunya as a whole although the number of sales of new build properties is down as demand currently outstrips supply.

 

 

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