According to the June statistics from the Instituto Nacional de Estadisticas (INE) there were 36.856 property transactions in the month, which is the highest figure since January 2013. Even more important from our point of view is that the overall figure masks a fall in new builds. Excluding these, which make up less than 18% of total transactions, paints a much different, even more rosy picture.
Sales of existing properties, which is our market, reached a level not seen since late 2007, almost nine years ago. June was the 28th successive month of increases in the number of sales of existing properties.
Total sales for the first six months of 2016, at 207.593 have reached a level not seen since 2010.
Author: Allan Hilder