What was the Annual growth rate in New Property Transactions from 2014 – 2019 in Spain by Autonomous Community
The following table illustrates a horizontal analysis, where we can appreciate the annual percentage growth rates for the Total Number of New Real Estate Property Transactions in every Autonomous Community from 2014 to 2019.
From the table we can appreciate the following:
Total Number of New Real Estate Property Transactions in Spain 2014 – 2019
We can appreciate that from 2014 – 2015 the annual growth rate for The Total Number of New Real Estate Property Transactions in Spain was -10,5% (54.863 transactions in 2014 and 49.110 in 2015), from 2015 to 2016 a negative growth remained of – 4,1%(47.114 transactions in 2016), from 2016 -17 transactions increased leading to a positive annual growth rate of 7% (50.397 transactions in 2017), and continued to increase to a positive annual growth from 2017 to 2018 of 12,1% (56.478 transactions in 2018), for then experiencing a slightly negative growth rate of – 0,5% from 2018 to 2019 (56.219 transactions in 2019). These Total Number of Transactions corresponds to the sum of the transactions that were carried out in the Autonomous Communities.
Total Number of New Real Estate Property Transactions by Autonomous Community 2014 – 2019
Andalusia: From 2014-15 the annual growth in the total number of new real estate property transactions was -10,2% (10.352 in 2014 and 9.300 transactions in 2015), from 2015-16 it continued at a negative growth rate of -20,3% (7.414 transactions in 2016), from 2016-17 commencing to recover at 0,3% (7.436 transactions in 2017), to then significantly increase to an annual growth of 34,3% from 2017-18 (9.990 transactions in 2018), and 5,9% from 2018-19 (10.580 transactions in 2019).
Aragon: From 2014-15 the annual growth in the total number of new real estate property transactions in Aragon was -21,2% (1.989 transactions in 2014 and 1.568 in 2015), then 9,8% from 2015-16 (1.722 transactions in 2016), -1,5% from 2016-17 (1.697 transactions in 2017), 16,9% from 2017-18 (1.984 transactions in 2018), and -3,7% from 2018-19 (1.910 transactions in 2019).
Asturias: The annual growth in the total number of new real estate property transactions in Asturias from 2014-15 was -30,2% (932 transactions in 2014 and 651 in 2015), from 2015-16 it was 4,9% (683 transactions in 2016), then 58,6% from 2016-17 (1.083 transactions in 2017), -8,4% from 2017-18 (992 transactions in 2018), and -20,6% from 2018-19 (788 transactions in 2019).
Balears (Illes): In Illes Balears the annual growth in the total number of new real estate property transactions from 2014-15 was -4,3% (1.404 transactions in 2014 and 1.344 in 2015), then 1% from 2015-16 (1.357 transactions in 2016), 6,3% from 2016-17 (1.443 transactions in 2017), -19,3% from 2017-18 (1.164 transactions in 2018), and 13,1% from 2018-19 (1.316 transactions in 2019).
Canarias: From 2014-15 the annual growth in the total number of new real estate property transactions in Canarias was -5% (2.052 transactions in 2014 and 1.950 in 2015), then -20,6% from 2015-16 (1.548 transactions in 2016), 7,3% from 2016-17 (1.661 transactions in 2017), -5,7% from 2017-18(1.566 transactions in 2018), and 11,4% from 2018-19 (1.745 transactions in 2019).
Cantabria: The annual growth in the total number of new real estate property transactions in Cantabria was -9% from 2014-15 (803 transactions in 2014 and 731 in 2015), -0,5% from 2015-16 (727 transactions in 2016), 5,1% from 2016-17 (764 transactions in 2017), 10,7% from 2017-18 (846 transactions in 2018), and -3,8% from 2018-19 (814 transactions in 2019).
Castilla y Leon: From 2014-15 there was a -24,9% annual growth in Castilla y Leon in the total number of new real estate property transactions (2.741 transactions in 2014 and 2.058 in 2015), -7,8% from 2015-16 (1.897 transactions in 2016), -1,7% from 2016-17 (1.865 transactions in 2017), 1,1% from 2017-18 (1.886 transactions in 2018), and 6,6% from 2018-19 (2.010 transactions in 2019).
Castilla la Mancha: In Castilla la Mancha the annual growth in the total number of new real estate property transactions was -26,8% from 2014-15 (2.879 transactions in 2014 and 2.108 in 2015), 5,1% from 2015-16 (2.216 transactions in 2016), 34,9% from 2016-17 (2.989 transactions in 2017), -19,6% from 2017-18 (2.404 transactions in 2018), and -8,4% from 2018-19 (2.202 transactions in 2019).
Cataluña: The annual growth in the total number of new real estate property transactions in Cataluña was -15,6% from 2014-15 (6.072 transactions in 2014 and 5.125 in 2015) , 3,7% from 2015-16 (5.315 transactions in 2016), 19,1% from 2016-17 (6.331 transactions in 2017), 12% from 2017-18 (7.089 transactions in 2018), and -2,6% from 2018-19 (6.906 transactions in 2019).
Communitat Valenciana: The annual growth in the total number of new real estate property transactions in Valencia was 4,3% from 2014-15 (6.675 transactions in 2014 and 6.961 in 2015), -0,9% from 2015-16 (6.895 transactions in 2016), 8,2% from 2016-17 (7.458 transactions in 2017), 3,7% from 2017-18 (7.731 transactions in 2018), and 2% from 2018-19 (7.887 transactions in 2019).
Extremadura: From 2014-15 the annual growth in the total number of new real estate property transactions was -15,5% in Extremadura (908 transactions in 2014 and 767 in 2015), -25,2% from 2015-16 (574 transactions in 2016), -4,9% from 2016-17 (546 transactions in 2017), -12,1% from 2017-18 (480 transactions in 2018), and -1,5% from 2018-19 (473 transactions in 2019).
Galicia: In Galicia the annual growth in the total number of new real estate property transactions was -22,5% from 2014-15 (3.663 transactions in 2014 and 2.839 in 2015), -17,6% from 2015-16 (2.340 transactions in 2016), -13,2% from 2016-17 (2.031 transactions in 2017), -2,5% from 2017-18 (1.981 transactions in 2018), and -4% from 2018-19 (1.902 transactions in 2019).
Madrid: From 2014-15 the annual growth in the total number of new real estate property transactions was 4,6% in Madrid (6.522 transactions in 2014 and 6.820 in 2015), 11,6% from 2015-16 (7.611 transactions in 2016), 16,6% from 2016-17 (8.875 transactions in 2017), 20,8% from 2017-18 (10.720 transactions in 2018), and -1% from 2018-19 (10.612 transactions in 2019).
Murcia: In Murcia the annual growth in the total number of new property transactions was -20,6% from 2014-15 (1.829 transactions in 2014 and 1.452 in 2015) , 20,9% from 2015-16 (1.756 transactions in 2016), -17,9% from 2016-17 (1.442 transactions in 2017), 8% from 2017-18 (1.557 transactions in 2018), and 1% from 2018-19 (1.572 transactions in 2019).
Navarra: From 2014-15 the annual growth in the total number of new real estate property transactions in Navarra was -40,9% (1.647 transactions in 2014 and 974 in 2015), then -2,1% from 2015-16 (954 transactions in 2016), 36,9% from 2016-17( 1.306 transactions in 2017), 37% from 2017-18 (1.789 transactions in 2018), and -30,1% from 2018-19 (1.250 transactions in 2019).
País Vasco: The annual growth in the total number of new real estate property transactions was 5,9% from 2014-15 in Pais Vasco (3.663 transactions in 2014 and 3.880 in 2015), -5,8% from 2015-16 (3.655 transactions in 2016), -20,2% from 2016-17 ( 2.915 transactions in 2017), 16,1% from 2017-18 (3.385 transactions in 2018), and 11,5% from 2018-19 (3.773 transactions in 2019).
La Rioja: In La Rioja the annual growth in the total number of new real estate property transactions was -17,6% from 2014-15 (443 transactions in 2014 and 365 in 2015), -27,9% from 2015-16 (263 transactions in 2016), 26,6% from 2016-17 (333 transactions in 2017), 56,2% from 2017-18 (520 transactions in 2018), and -41,5% from 2018-19 (304 transactions in 2019).
Ceuta y Melilla: From 2014-15 the annual growth in the total number of new real estate property transactions in Ceuta and Melilla was -24,9% (289 transactions in 2014 and 217 in 2015), from 2015-16 it was -13,8% (187 transactions in 2016), then 18,7% from 2016-17 (222 transactions in 2017), 77,5% from 2017-18 (394 transactions in 2018), and -55,6% from 2018-19 (175 transactions in 2019).
What Autonomous Communities experienced the highest annual growth rate in the Total Number of New Real Estate Property Transactions when analyzed independently from their weight?
2014 – 2015
It is to be noticed from the horizontal analysis from 2014 – 15, that most of the Autonomous Communities experienced a negative annual growth rate. From 2014 -2015, being País Vasco (5,9%), Madrid (4,6%), and the Communitat Valenciana (4,3%) the only Autonomies that had a positive growth rate. The remaining Autonomous Communities, organized from the least negative growth rate are Illes Balears (-4,3%), Canarias (-5%), Cantabria (-9%) Andalusia (-10,2%), Extremadura (-15,5%), Cataluña (-15,6%), La Rioja (-17,6%), Murcia (-20,6%), Aragón (-21,2%), Galicia (-22,5%), Castilla y León (-24,9%), Ceuta and Melilla (-24,9%), Castilla la Mancha (-26,8%), Asturias (-30,2%), and Navarra (-40,9%).
2015 – 2016
From 2015-16, still most Autonomous Communities experienced a negative growth rate in the Number of New Real Estate Property Transactions, although improvements were experienced in some areas. The highest growth rate was in Murcia (20,9%), followed by Madrid (11,6%), Aragón (9,8%), Castilla la Mancha (5,1%), Asturias (4,9%), Cataluña (3,7%), Illes Balears (1%), Cantabria (-0,5%), Communitat Valenciana (- 0,9%), Navarra (-2,1%), Pais Vasco (-5,8%), Castilla y Leon (-7,8%), Ceuta and Melilla (-13,8%), Galicia (-17,6%), Andalusia (-20,3%), Canarias (-20,6%), Extremadura (-25,2%), La Rioja (-27,9%).
2016 – 2017
From 2016 to 2017 the overall annual growth rates in the Total number of New Real Estate Transactions increased, with six Autonomous Communities experiencing negative growth rates. The highest growth rate was in Asturias (58,6%), followed by Navarra (36,9%), Castilla la Mancha (34,9%), La Rioja (26,6%), Cataluña (19,1%),Ceuta and Melilla (18,7%), Madrid (16,6%), Communitat Valenciana (8,2%), Canarias (7,3%), Illes Balears (6,3%), Cantabria (5,1%), Andalusia (0,3%), Aragón (-1,5%), Castilla y León (-1,7%), Extremadura (-4,9%), Galicia (-13,2%), Murcia (-17,9%) and País Vasco (-20,2%).
2017 – 2018
From 2017-18 the overall annual growth in the Total Number of New Property Transactions continued to increase. The Autonomous Community that experienced the highest annual growth rate was Ceuta and Melilla (77,5%), followed by La Rioja (56,2%), Navarra (37%), Andalusia (34,3%), Madrid (20,8%), Aragón (16,9%), País Vasco (16,1%), Cataluña (12%), Cantabria (10,7%), Murcia (8%), Communitat Valenciana (3,7%), Castilla y León (1,1%), Galicia (-2,5%), Canarias (-5,7%), Asturias (-8,4%) Extremadura (-12,1%), Illes Balears (-19,3%), and Castilla la Mancha (-19,6%).
2018 – 2019
From 2018-19 there was a slowdown in the Total annual growth that had been experienced for the previous period, with an increase in the Autonomous Communities that experienced negative annual growth rates. The Autonomous Community that experienced the highest annual growth rate was Illes Balears (13,1%), followed by País Vasco (11,5%), Canarias (11,4%), Castilla y León (6,6%), Andalusia (5,9%), Communitat Valencia (2%), Murcia (1%), Madrid (-1%), Extremadura (-1,5%), Cataluña (-2,6%), Aragón (-3,7%), Cantabria (-3,8%), Galicia (-4%), Castilla la Mancha (-8,4%), Asturias (-20,6%), Navarra (-30,1%), La Rioja (-41,5%), Ceuta and Melilla (-55,6%).
When analyzing the annual growth of the Transactions that corresponds to New Real Estate Property Transactions by Autonomous Community in Spain from 2014 to 2019, we realize that the annual growth rates are very unstable, and between 2016 to 2018 the highest growth rates were experienced. The result for the annual growth from 2018 – 2019, could suggest some sort of stagnant position for the sectors curve, where together with this years health crisis due to Covid-19, the result for this coming year is rather ambiguous, although a further downturn would not be a surprise, where some Autonomous Communities will be more affected than others. This information needs to be analyzed together with the Total Resale Real Estate Property Transactions in order to have the complete image, thus in the next article we will analyze the distribution and annual growth of the Resale Real Estate Property Transactions for this same period.
The current situation requires a high degree of collaboration among stakeholders, finding ways to expand the market and maintaining a sustainable real estate sector that can prosper under the new conditions faced.