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What was the annual growth in the Total Real Estate Property Transactions in Spain during the period 2014-19, and were they New Property or Resale?

According to the data provided by Mitma (Ministerío de transportes, movilidad y agenda urbana ,the Ministry of Transport, mobility, and Urban Agenda, belonging to the Spanish government, in 2019 there was a Total of 568.180 Real Estate Property Transactions carried out in Spain, contrasted with the 582.888 transactions carried out in 2018, thus there has been a negative annual increase in the transactions of -2,5% from 2018 to 2019. From the horizontal analysis we can analyze the percentage of growth experienced annually from 2014 to 2019, where an increase in annual growth in terms of Total Number of Real Estate Property Transactions is identified between 2014-15, with a 9,9% annual growth (365.621 transactions in 2014, and 401.713 transactions in 2015), increasing to a 13,9% annual growth from 2015-16 (457.738 transactions in 2016), and to a 16,3% annual growth from 2016-17 (532.261 transactions in 2017). From 2017 to 2018, annual growth was still positively increasing at a rate of 9,5% (582.888 transactions in 2018), reaching a negative annual growth from 2018-19 of -2,5% (568.180 transactions in 2019).

The distribution of Resale and New property transactions in Spain 2014-19

From the 568.180 transactions carried out in 2019, 90,1% corresponded to resale properties (511.961 transactions), and the remaining 9,9% (56.219) corresponded to new property transactions. From a vertical analysis we can identify the number of transactions corresponding to Resale and New Property Transactions in the previous years since 2014, where in 2014 the percentage of transactions corresponding to Resale properties was 85% (310.758 transactions), and 15% (54.863) corresponded to New Properties; in 2015 the proportion was of 87,8% (352.603 transactions), 12,2% (49.110 transactions), in 2016 it was 89,7% (410.624) , and 10,3% (47.114 transactions), in 2017 it was 90,5% (481.864 transactions) and 9,5% (50.397 transactions), and in 2018 the 90,3% (526.410) of transactions corresponded to Resale properties and 9,7% (56.478) to New properties.

New Property Transactions annual growth Spain 2014-19

It can be identified that between 2014-15 there was a negative annual growth in the Number of New Property Real Estate Transactions of – 10,5% (54.863 transactions in 2014, and 49.110 in 2015), and between 2015-16 the growth also remained negative with a -4,1% annual growth (47.114 transactions in 2016). From 2016 an increase in new property transactions evolved leading to a positive growth between 2016-17 of 7% (50.397 transactions in 2017), and between 2017-18 the growth was increased even further to a 12,1% annual growth (56.478 transactions in 2018). Nevertheless, the following year between 2018-19 a slightly negative annual growth of -0,5% (56.219 transactions in 2019) was experienced.

Resale Property Transactions annual growth Spain 2014-19

The growth rate experienced in the Number of Resale Real Estate Property Transactions between 2014-15 was 13,5% ( 310.758 transactions in 2014 and 352.603 transactions in 2015), from 2015-16 it was 16,5% (410.624 transactions in 2016), 17,3% from 2016-17 (481.864 transactions in 2017), between 2017-18 a 9,2% annual growth (526.410 transactions in 2018) was experienced, and lowered to a negative growth of -2,7% between 2018-19 (511.961 transactions in 2019).

Resale Property Transactions represents a larger proportion of the transactions carried out in Spain. As a percentage of the Total Number of Real Estate Property Transactions, we can identify that the Number of New Property Transactions represented a larger proportion of the Total in 2014 (15%) than in the posterior period (9,9% in 2019). The increase in transactions from 2014 to 2019 has mainly been in Resale Property Transactions ( 310.758 transactions in 2014, and 511.961 in 2019). In following articles each Autonomous Community in Spain will be analyzed further.

 

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