Spanish property market July 2023
In this post, we will analyse the trends and developments in property transmissions using the latest available data from the Spanish Institute of National Statistics.
This will provide you with a valuable insight into the current state of affairs of the property market in Spain.
Spain has long been a coveted destination for property investments, attracting buyers from across the globe. Whether you are a seasoned investor or someone dreaming of owning a piece of Spanish paradise, keeping abreast of the market’s fluctuating dynamics is crucial.
By discussing the latest property sales figures, we hope to offer a valuable insight into the current state of the market.
Whether you are considering investing in a holiday home on the Costa del Sol or exploring the urban real estate market in Barcelona, stay tuned as we unpack the latest developments and trends, ensuring you stay ahead of the curve.
July 2023 property transmissions in Spain
The total number of property transmissions in Spain in July 2023 was 170,109. This figure represents a fall of 4.7% compared with July 2022.
Property transmissions includes several different kinds of transfer including; sales, donations/gifts, inheritances etc..
The most accurate barometer of the state of the market is the number of regular sales. In July 2023 these amounted to 92,262.
This figure means that sales have dropped by 10.5% in comparison to July 2022.
Transmissions by type
The pie chart below outlines the number of transmissions by type. The classification “other” includes various circumstances such as joining of plots, bank repossessions, judicial actions and settlements.
New build sales
The total number of new properties sold in July 2023 was 8,267. This is 7.4% less than July 2022.
Regional figures
The table below shows the breakdown of property transactions by region.
The regions with the most transmissions per 100,000 inhabitants were Valencia (189), Murcia (149) and Andalucia (144).
|
Region |
Transmissions | Annual variation |
| Andalucia | 29,557 |
-2.9 |
| Aragón | 6,719 |
0.1 |
| Asturias | 4,107 |
-3.7 |
| Balearic Islands | 4,248 |
-15.4 |
| Canary Islands | 5,738 |
-12.0 |
| Cantabria | 2,471 |
-0.3 |
| Castilla & León | 13,659 |
0.2 |
| Castilla La Mancha | 10,384 |
-1.6 |
| Cataluña | 23,962 |
-9.2 |
| Comunitat Valenciana | 24,561 |
-5.5 |
| Extremadura | 3,985 |
8.1 |
| Galicia | 7,675 |
-10.3 |
| Madrid | 17,145 |
-1.3 |
| Murcia | 5,555 |
-1.3 |
| Navarra | 1,894 |
-23.7 |
| Pais Vasco | 6,719 |
0.2 |
| Rioja, La | 1,498 |
-16.0 |
| TOTAL | 170,109 |
-4.7 |
Comment
July follows the same trend as seen throughout 2023. The majority of regions have experienced a fall in the volume of transactions.
It can be considered that there are several underlying causes for the stagnation of the property market. The most significant being the increasing interest rates having led to higher mortgage rates.
About us
Gascón Bernabéu Abogados is a firm of Spanish lawyers. Our property department provides a wide range of services for international clients.
If you are considering purchasing a property in Spain, please don’t hesitate to contact us. We offer a no obligation consultation.
Related Services
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