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What was the Annual Growth in the Total Number of Real Estate Property Transactions in Spain by Autonomous Community during the period of 2014-19?

Since 2014, the Number of Real Estate Property Transactions that were carried out in Spain increased significantly annually, after the downturn experienced in the post period of the 2008 financial crisis. From the study we can appreciate that from year 2018 to 2019 the annual growth started to stagnate and show negative growth rates in most of the Autonomous Communities in Spain, and this was before the health care crisis commenced this year.

After analyzing the annual growth in the Total Number of Real Estate Property Transactions in Total Spain in the period from 2014 to 2019, we will now proceed to outline the annual growth in terms of Autonomous Communities. The source of the data analyzed is the Spanish government Statistical Bulletin (Boletín Estadístico).

In the following table, the annual growth rates experienced in the Total Number of Real Estate Property Transactions are specified by Autonomous Community in the period from 2014 to 2019 .

From the table we can appreciate the following:

 

Andalusia

From 2014 -15 the annual growth in the number of real estate property transactions in Andalusia was 9,6% (70.019 transactions in 2014 and 76.743 in 2015) , from 2015-16 it was 8,8% (83.508 transactions in 2016), then 15,5% from 2016-17 (96.440 transactions in 2017), 14,5% from 2017-18 (110.425 transactions in 2018), and -1,3% from 2018-19 (108.977 transactions in 2019).

Aragon

From 2014-15 the annual growth in the number of real estate property transactions in Aragon was 14,1% (9.920 transactions in 2014 and 11.317 in 2015), then 3,3% from 2015-16 (11.688 transactions in 2016), 19,7% from 2016-17 (13.988 transactions in 2017), 10,8% from 2017-18 (15.499 transactions in 2018), and -1% from 2018-19 (15.351 transactions in 2019).

Asturias

The annual growth in the number of real estate property transactions in Asturias from 2014-15 was 10,2% (5.915 transactions in 2014 and 6.516 in 2015), from 2015-16 it was 16,7% (7.602 transactions in 2016), then 21,2% from 2016-17 (9.216 transactions in 2017), 10,5% from 2017-18 (10.186 transactions in 2018), and -0,6% from 2018-19 ( 10.126 transactions in 2019).

Balears (Illes)

In Illes Balears the annual growth in the number of real estate property transactions from 2014-15 was 18% (10.972 transactions in 2014 and 12.952 in 2015), then 22,6% from 2015-16 (15.882 transactions in 2016), 15,8% from 2016-17 ( 18.390 transactions in 2017), -5% from 2017-18 ( 17.466 transactions in 2018), and -10,4% from 2018-19 (15.643 transactions in 2019).

Canarias

From 2014-15 the annual growth in the number of real estate property transactions in Canarias was 10,8% ( 17.915 transactions in 2014 and 19.846 in 2015), then 12,3% from 2015-16 (22.283 transactions in 2016), 16,1% from 2016-17 ( 25.868 transactions in 2017), -2,3% from 2017-18 (25.269 transactions in 2018), and -2,9% from 2018-19 (24.538 transactions in 2019).

Cantabria

The annual growth in the number of real estate property transactions in Cantabria was 16,5% from 2014-15 (4.000 transactions in 2014 and 4.660 in 2015), 12,7% from 2015-16 (5.250 transactions in 2016), 26,4% from 2016-17 ( 6.638 transactions in 2017), 6,5% from 2017-18 (7.072 transactions in 2018), and 2,3% from 2018-19 (7.238 transactions in 2019).

Castilla y Leon

In Castilla y Leon the annual growth in the number of real estate property transactions from 2014-15 twas a 5,2% (17.405 transactions in 2014 and 18.306 in 2015), 12% from 2015-16 (20.509 transactions in 2016), 11,6% from 2016-17 (22.890 transactions in 2017), 13,4% from 2017-18 (25.957 transactions in 2018), and -0,6% from 2018-19 (25.803 transactions in 2019).

Castilla la Mancha

In Castilla la Mancha the annual growth in the number of real estate property transactions was -0,9% from 2014-15 (14.413 transactions in 2014 and 14.288 in 2015), 13,8% from 2015-16 ( 16.265 transactions in 2016), 26,9% from 2016-17 (20.642 transactions in 2017), 14,5% from 2017-18 (23.626 transactions in 2018), and 1% from 2018-19 (23.868 transactions in 2019).

Cataluña

The annual growth in the number of real estate property transactions in Cataluña was 11,2% from 2014-15 (54.948 transactions in 2014 and 61.108 in 2015), 23% from 2015-16 (75.152 transactions in 2016), 13,9% from 2016-17 (85.567 transactions in 2017), 4,8% from 2017-18 (89.685 transactions in 2018), and -0,7% from 2018-19 (89.043 transactions in 2019).

Communitat Valenciana

The annual growth in the number of real estate property transactions in Valencia was 10,4% from 2014-15 (53.989 transactions in 2014 and 59.605 in 2015), 13,8% from 2015-16 (67.820 transactions in 2016), 16,7% from 2016-17 (79.132 transactions in 2017), 12,2% from 2017-18 (88.792 transactions in 2018), and -5% from 2018-19 (84.356 transactions in 2019).

Extremadura

From 2014-15 the annual growth in the number of real estate property transactions was 0,7% in Extremadura (6.282 transactions in 2014 and 6.323 in 2015), 13,8% from 2015-16 (7.197 transactions in 2016), 12,4% from 2016-17 (8.090 transactions in 2017), 14,7% from 2017-18 (9.280 transactions in 2018), and 4,3% from 2018-19 (9.683 transactions in 2019).

Galicia

In Galicia the annual growth in the number of real estate transactions was 4,2% from 2014-15 (14.037 transactions in 2014 and 14.633 in 2015), 6,6% from 2015-16 (15.604 transactions in 2016), 12,5% from 2016-17 (17.555 transactions in 2017), 12,7% from 2017-18 (19.786 transactions in 2018), and 3,3% from 2018-19 (20.441 transactions in 2019).

Madrid

From 2014 -15 the annual growth in the number of real estate property transactions was 9% in Madrid (52.697 transactions in 2014 and 57.431 in 2015), 17,3% from 2015-16 (67.366 transactions in 2016), 19,7% from 2016-17 (80.613 transactions in 2017), 5,8% from 2017-18 (85.294 transactions in 2018), and -8,1% from 2018-19 (78.375 transactions in 2019).

Murcia

In Murcia the annual growth in the number of real estate property transactions was 16,2% from 2014-15 (11.009 transactions in 2014 and 12.788 in 2015), 6,6% from 2015-16 (13.638 transactions in 2016), 13,3% from 2016-17 (15.447 transactions in 2017), 17,9% from 2017-18 (18.213 transactions in 2018), and 4,7% from 2018-19 (19.073 transactions in 2019).

Navarra

In Navarra the annual growth in the number of real estate property transactions was 2,4% from 2014 – 15 (4.427 transactions in 2014 and 4.533 in 2015), then 9,1% from 2015-16 (4.946 transactions in 2016), 22,1% from 2016-17 (6.040 transactions in 2017), 18,5% from 2017-18 (7.156 transactions in 2018), and -8,9% from 2018-19 (6.519 transactions in 2019).

Pais Vasco

The annual growth in the number of real estate property transactions was 18,2% from 2014-15 in Pais Vasco (14.012 transactions in 2014 and 16.568 in 2015), 13% from 2015-16 (18.730 transactions in 2016), 11,6% from 2016-17 (20.909 transactions in 2017), 10,8% from 2017-18 (23.166 transactions in 2018), and 2% from 2018-19 (23.637 transactions in 2019).

La Rioja

In La Rioja the annual growth in the number of real estate property transactions was 13,5% from 2014-15 (2.753 transactions in 2014 and 3.124 in 2015), 4,2% from 2015-16 (3.255 transactions in 2016), 15,1% from 2016-17 (3.748 transactions in 2017), 24,3% from 2017-18 (4.659 transactions in 2018), and -8% from 2018-19 (4.288 transactions in 2019).

Ceuta y Melilla

From 2014-15 the annual growth in the number of real estate property transactions in Ceuta and Melilla was 7% (908 transactions in 2014 and 972 in 2015), from 2015-16 it was 7,3% (1.043 transactions in 2016), then 4,3% from 2016-17 (1.088 transactions in 2017), 24,7% from 2017-18 (1.357 transactions in 2018), and -10% from 2018-19 (1.221 transactions in 2019).

 

What Autonomous Communities experienced the highest growth rate when analyzed independently?

2014 – 2015

In the period from 2014-15 the Autonomous Community that experienced the largest individual growth was País Vasco (18,2%), followed by Illes Balears (18%) Cantabria (16,5%), Murcia (16,2%), Aragón (14,1%), La Rioja (13,5%), Cataluña (11,2%), Canarias (10,8%), Communitat Valenciana (10,4%), Asturias (10,2%), Andalusia (9,6%), Madrid (9%), Ceuta and Melilla (7%), Castilla y León (5,2%), Galicia (4,2%), Navarra (2,4%), Extremadura (0,7%), and Castilla la Mancha with a negative growth (-0,9%) from 2014 to 2015.

2015 – 2016

In the period from 2015-16 the Autonomous Community that experienced the largest annual individual growth rate was Cataluña (23%), followed by Illes Balears (22,6%), Madrid(17,3%), Asturias (16,7%), Communitat Valenciana (13,8%), Castilla la Mancha (13,8%), Extremadura (13,8%), País Vasco (13%), Cantabria (12,7%), Canarias (12,3%), Castilla y León (12%), Navarra (9,1%), Andalusia (8,8%), Ceuta and Melilla (7,3%), Murcia (6,6%), Galicia (6,6%), La Rioja (4,2%), and Aragón (3,3%).

2016 – 2017

In the period from 2016-17 the Autonomous Community that experienced the largest growth was Castilla la Mancha (26,9%), followed by Cantabria (26,4%), Navarra (22,1%), Asturias (21,2%), Madrid (19,7%), Aragón (19,7%), Communitat Valenciana (16,7%), Canarias (16,1%), Illes Balears (15,8%), Andalusia (15,5%), La Rioja (15,1%), Cataluña (13,9%), Murcia (13,3%), Galicia (12,5%), Extremadura (12,4%), Castilla y León (11,6%), País Vasco (11,6%), Ceuta and Melilla (4,3%).

2017 – 2018

In the period from 2017-18 the Autonomous Community that experienced the largest growth was Ceuta and Melilla (24,7%), followed by La Rioja (24,3%), Navarra (18,5%), Murcia (17,9%), Extremadura (14,7%), Andalusia (14,5%), Castilla la Mancha (14,5%), Castilla y León (13,4%), Galicia (12,7%), Communitat Valenciana (12,2%), País Vasco (10,8%), Aragón (10,8%), Asturias (10,5%), Cantabria (6,5%), Madrid (5,8%), Cataluña (4,8%), Canarias (-2,3%), and Illes Balears (- 5%).

2018 – 2019

In the period from 2018-19 the Autonomous Community that experienced the largest growth was Murcia (4,7%), followed by Extremadura (4,3%), Galicia (3,3%), Cantabria (2,3%), País Vasco (2%), and Castilla la Mancha (1%), Castilla y León (-0,6%), Asturias (-0,6%), Cataluña (-0,7%), Aragón (-1%), Andalusia (-1,3%), Canarias (-2,9%), Communitat Valenciana (-5%), La Rioja (-8%), Madrid (-8,1%), Navarra (-8,9%), Ceuta and Melilla (-10%), and Illes Balears (- 10,4%).

Map: Annual growth in the Number of Real Estate Property Transactions from 2018 – 2019 by Autonomous Community.

 

It can be appreciated that the annual growth rates in the Total Number of Real Estate Property Transactions does not support a stable annual growth, thereby making it difficult to predict. The high growth rates in the previous years have also led to an increase in prices. In the next articles we will see how the Number of Transactions in each Autonomous Community varied as a proportion of the Total Number of Real Estate Property Transactions in Spain for this same period, and the annual growth experienced in New and Resale Property Transactions by Autonomous Community.

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