House sales up 10.2% in Catalonia since March last year; 6th consecutive month of annual growth

Barcelona (ACN).- House sales in Catalonia have recorded a double-digit growth rate in March compared to the same period last year, official data from the Spanish Statistics Institute (INE) highlighted on Friday. The number of house sales was 4,334 units, which represents a 10.2% annual increase over March 2014 figures. So far, Catalonia has accumulated six consecutive months of positive annual rates for house sales, and all its provinces have followed this trend with the exception of Tarragona. In particular, Barcelona Province stands out with an above-the-average 15.66% annual increase. In Spain as a whole, the number of houses sold in March was 27,280 units, a 2.1% increase in annual terms and the 7^th consecutive month of positive annual rates. Overall, in March Catalonia ranked fourth in Spain for positive annual rates in house sales. Asturias came top with a 39% increase in annual terms (442 housing units sold), followed by Galicia (+18.3% for a total of 1,093 properties) and Castile and Leon (+13.6% for 1,247 housing units).

In Catalonia, second-hand properties make up the majority of house sales in March, accounting for 78.4% of total sales. The figures show that 3,397 of the 4,334 housing units sold were already used units. Second-hand properties thus register a 26.52% annual increase in sales, accumulating 6 consecutive months of annual growth. However, the total number of new housing sold in March stood at 937, which means 24.92% less compared to the same period last year. New property sales now accumulates 11 consecutive months of annual negative growth. According to the Spanish Statistics Institute, the number of houses sold in March in Catalonia was the lowest for 2015 so far.

In Spain as a whole, a similar situation prevailed. Indeed, second-hand housing units sold in March account for 75.8% of total sales: 20,683 of the 27,280 properties sold were previously owned, while only the remaining 6,597 were new builds.

All Catalan provinces registered an annual increase for house sales except Tarragona

All Catalan provinces registered an annual increase for house sales in March with the exception of Tarragona. Barcelona Province recorded an outstanding 15.66% annual growth, while Lleida and Girona recorded a 9.8% and 2.7% increase, respectively. In Tarragona, house sales dropped in annual terms by 8.2%.

In Barcelona Province (where two-thirds of Catalans live), a total of 3,028 housing units were sold in March. Out of these, 656 were new properties (a 13.68% annual drop) and the remaining 2,372 had been previously owned (+27.66% in annual terms). With regard to the type of residence, 2.570 were on the open market and only 458 were sold as social housing.

The Province of Lleida (western Catalonia) closed March 2015 with a total number of 212 housing units sold. 56 of them were new properties, sales of which registered a 30% annual drop. The remaining 156 had been previously owned, amounting to 73.6% of total sales and registering a 9.84% increase in annual terms. With regard to the type of residence, 193 were on the open market and 19 were sold as social housing.

In the Province of Girona (north-eastern Catalonia, where the Costa Brava is located), a total of 602 housing units was sold in March. Out of these, 118 were new builds (a 40.4% annual drop) and the remaining 484 - 80.4% of the total - had been previously built (+24.74% in annual terms). With regard to the type of residence, 577 were sold on the open market and 25 were social housing.

Lastly, the Province of Tarragona (southern Catalonia, where the Costa Daurada is located) closed March 2015 with a total number of 492 housing units sold. 107 of them were new properties, sales of which registered a 49.05% annual drop. The other 385 were previously owned properties, amounting to 78.3% of total sales. With regard to the type of residence, 468 were on the open market and only 24 were sold as social housing.