According to the latest data published by the National Institute of Statistics (INE), home purchase rose 6.5% in October compared to the same month of 2015, to a total of 29,369 operations.
There have been nine consecutive months of growth, with October's growth lower than that of September, when housing sales grew 13.2% year-on-year. The operations related to used housing increased by 8.2% year-on-year with 24,010 signatures. For its part, the new work fell by -0.4% to 5,359 transactions. The monthly drop is -15.9%, and the accumulated in the first ten months of 2016 is 13.9%.
There are two factors that make it clear to experts that next year will be a good year for the real estate market: on the one hand economic growth since forecasts point to a growth of the Spanish economy for the year 2017 with an increase in the GDP of A 2.3% that will create employment and will continue to reduce the unemployment rate.
On the other hand, the positive evolution of the mortgage market continues to show favorable conditions for the indebtedness of families. The mortgage debt of families to date is the lowest since the crisis began.
Europahus is a real estate agency located in the municipality of Los Alcázares in Murcia. We have been helping people like you find the house of your dreams in Spain for 15 years. We are your agency if you are looking for new build and resale properties to buy in the Mediterranean Coast.
Our close collaboration with a multitude of local real estate agents makes our catalogue include all kinds of properties throughout the provinces of Murcia and Alicante, in towns such as Torre Pacheco, Los Narejos, San Javier, Mil Palmeras, Cabo Roig and many plus.
Contact us if you are looking for the home of your dreams in Spain.