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The National Institute of Statistics (INE) reported that in November 2021, home sales in Spain grew by 24.4% compared to last year, with 49,895 transactions registered. This is the highest number since 2007 (the year of the peak of the "bubble" in the housing market), when 56,000+ transactions were registered.
The year-on-year increase in November 2021 is the ninth consecutive positive figure, following a 22.2% rise in October.
The number of property sales in Spain grew by 34.7% between January and November 2021, according to the National Institute of Statistics (INE). However, the Covid-19 epidemic wreaked havoc on the real estate sector in 2020, which had a significant impact on the sector's performance.
On a monthly basis, home sales in Spain rose 7.9% in November. In this example, this is the largest increase seen in November since 2017.
In November, the number of new homes sold increased by 31.5 percent to 10,341 transactions in 2018. New and used home sales rose 22.9 percent to 39,554 transactions.
Sales by region
Most homes for sale (91.2%) were open-market homes, according to INE, which were up 23.9% year-on-year (up 20.5%).
The most significant annual surge in property sales occurred in the following Spanish states:
Balearic Islands (70.8%), La Rioja (56.4%) and Cantabria (49.9%). Only Navarre (-8.9%), Asturias (-3.8%) and Galicia (-1.3%) ended the month with negative figures.
