Murcia property sales rose by 7.5 per cent in 2016

Increases were reported in all 17 regions of Spain

The data regarding residential property sales registered in December were published by the government’s central statistics unit on Friday, revealing that in the Region of Murcia last year there were 7.5% more Murcia property sales rose by 7.5 per cent in 2016 transactions than in 2015, despite a year-on-year decrease of 13.8% in the last month of the year.

In December there were just 765 sales registered in Murcia, but in the whole of last year the total reached 11,847, not only 7.5% more than in 2015 but a full 20.4% more than the year before. However, the last part of 2016 was not positive for the market in the Costa Cálida, as only in one of the last five months was there a year-on-year rise in the figure reported.

On the positive side, though, the number of new properties sold represented only 16.1% of the overall figure last year: this ought to augur well for the construction sector, which practically ground to a halt after the market bubble burst in late 2007 and there was suddenly an excess of supply in the Spanish property market.

In Spain as a whole the figures for the whole of 2016 show an increase of 13.6% in the number sales to 403,866, and the ongoing nature of the market recovery is illustrated not only by the growth in the last twelve months but also by the fact that the number of sales has risen by 26.7% since 2014. The figures were higher last year than in 2015 in all 17 of Spain’s regions, the most significant increases being those recorded in the Balearics Islands (31%), Catalunya (20%), Extremadura (18.6%) and Asturias (16%).

At the same time, year-on-year increases were registered in every month of last year apart from a minimal decrease in January, the only downward movement reported in the last 24 months.

In terms of the busiest markets, measured by the number of sales per 100,000 inhabitants, the two leading regions were the Balearics (1,521) and the Comunidad Valenciana (1,478), both of them areas where there is a high level of interest in property from non-Spanish buyers.

Published MurciaToday14 February 2017

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