Housing market continues to recover in Catalonia

It is the 6th month in a row that the sales of houses and flats have grown in Catalonia. 30% more flats have been sold in relation to last year, confirming the recovery of the market.


July 13, 2010 01:52 AM

Madrid (CNA).- The Spanish National Institute of Statistics has published data on the housing market. The housing sales in Catalonia increased by 29.9% in May compared with the same month last year. In total, 4,575 successful operations were undergone in May, a number similar to the one of summer 2008. May’s positive data corresponds to the 6th month in a row with continuous increases regarding the same month of the year before. The current situation is starting to build trust within the market, confirming a positive trend that has nothing to do with the continuous decrease of sales that started in early 2008 and only stopped in December 2009. The Catalan building sector continues its recovery at a much faster pace than the Spanish average, which globally saw the sales of houses and flats increase 11.9% in May compared to a year ago.
In the last 6 months, the housing market in Catalonia has registered a total annual increase of about 20% compared to last year’s average of 40%. However, the month of February was extremely positive, with an increase of 70% compared to the same month of the previous year, with 5,514 successful operations. This data had not been seen since April 2008.

Out of the 4,575 housing venues sold in May, 94% were free market and only 6% corresponded to social housing. Regarding the type of housing, 60% of the sales were second hand housing, while 40% were recently built ones.

The sales increase in the whole of Catalonia except for Lleida

Positive figures were registered in all of Catalonia but in the Lleida province. This was the only territory where the sales decreased in comparison to the same time last year, in this case a 16% decrease from May 2009. 238 operations were registered in Lleida, 128 being second hand housing and 110 corresponding to recently built constructions.

On the contrary, in Barcelona’s province, the housing sales have increased significantly. Concretely, 39% regarding last May, an amount greater than the Catalan average. 3,103 successful operations were carried out in Barcelona. The majority corresponded to second hand housing (1,975) and the rest to new flats and houses (1,128).

Tarragona is the second Catalan province where sales increased in a higher rhythm. 26% more operations were registered in May 2010. Finally, in the Girona province, 21% more flats and houses were sold.

Sales increase by an average of 11.9% in Spain

For the whole of Spain, 37,787 successful operations were made in May, which represents an increase of 11.9% from the same month of 2009. Taking into account the accumulated volume of operations of the first 5 months of 2010, the sector has had better results than in the same period of 2009, concretely 11.5% more. In this case, 49.5% of the sales were second hand housing and 50.5% were of new construction.

Looking at the data per Autonomous communities, 57.6% of all sales in Spain took place in Andalucía (with 7,197 operations), Madrid (with 5,201 operations), Catalonia and the Basque Country.