April 20, 2021

The purchase of homes grew 10.1% last year and recorded the highest volume since 2008

The purchase of homes grew 10.1% last year and recorded the highest volume since 2008


The sale of homes increased 10.1% in 2018 with respect to the previous year and added 515,051 transactions, the largest volume since 2008, according to data from the National Institute of Statistics (INE). Thus, this indicator chained upwards for five years, although it slowed down its progress with respect to the previous year, when it rebounded 15.4%. Thus, operations increased by 2% in 2014, by 11.5% in 2015, by 14% in 2016 and by 15.4% in 2017. In 2018, this was the most moderate annual advance since 2014 .

In the period of crisis, the worst years for housing transactions were 2009 and 2008, in which these operations plummeted 25.1% and 28.8%, respectively. In 2012 and 2011, double-digit declines were still recorded (-11.5% and -18.1%), while in 2013 the fall was moderated to 1.9% due to the end of tax benefits for the acquisition of housing.

In the case of used housing, a segment in which 422,531 operations were registered (82% of the total), the increase was 9.9%, 6.5 points less than in 2017, while in the new construction market, sales increased 18%, compared to 11.1% in 2017, and 92,520 transactions were accounted for (18% of the total).

90.3% of the homes transmitted by purchase during the past year were free homes and 9.7% protected. Total, the sale of free homes rose by 10.1% in 2018, up to 465,083 transactions, while the purchase and sale of subsidized housing rebounded 10.3%, up to 49,968 transactions, its highest figure in eight years. With this increase, the sale of protected housing chains four consecutive years of increases.

Only in December, the sale of homes rose 3.8% to 33,831 operations, with a rebound of 3.2% in the case of second-hand homes (27,659) and 6.5% in the case of second-hand homes. new construction (6,172).

Being made with information from the property registrars, the statistics of the INE reflects sales closed months before, so the data for December would reflect the uncertainty that plagued the market before the ruling of the Supreme Court became known on mortgage expenses in November. Regarding that month, they fell 19.7%.

By autonomy, this indicator rose in all, except in the Balearic Islands, where it fell by 2.9%. The highest increases corresponded to Murcia (24.3%), La Rioja (18.9%) and Castilla-La Mancha (18.1%).

Only in December, sales fell in six communities, led by Canarias (-14.8%), Navarra (-10.8%) and Asturias (-8.4%). The most pronounced increases were in Murcia (22.6%), Cantabria (19%) and La Rioja (18.6%).


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