In the first six months of the year the number of home sales in Spain increased by 19.6%, with the second hand housing market leading the recovery, according to latest figures published by the General Council of Notaries.
From January to June there were a total of 225,551 home sales, second hand housing accounted for 68.1% (153,631) of transactions, an increase of 19.29%, year-on-year.
New housing sales accounted for 15,675 of transactions, a decline of 13.6% from the previous year. In fact there were ten times more second hand home sales than there were new home sales, according to the data.
The month of June also produced positive figures with home sales growing by 7.1%, year-on-year. Second hand home sales reached a total of 29,052, representing an increase of 11.5% compared with the same month last year. Meanwhile new housing transactions decreased by 33.4% to 2,751 units sold.
The price of second hand housing also grew in the first half of the year; by the end of June prices stood at €1,418/m2, an increase of 6.1% on last year when prices were €1,336/m2.
Even though there was a decline in the number of new housing sales, house prices in this sector have still increased; in the first half of the year the prices of new houses increased by 12.7% to €1,886/m2, the data revealed.
During the month of June 44.7% of home sales in Spain were financed by a mortgage loan, with the average value reaching €128,480, an increase of 0.4% over the past year.