House purchases rose 8.8% in June of this year compared to the same month in 2013, according to figures released on Thursday by the National Statistics Institute (INE). The month saw a total of 26,076 operations, thanks mostly to the second-hand market.
This is the fourth consecutive rise, after improvements seen in March, April and May, when house sales rose 22%, 5% and 5.4%, respectively, compared to the same months a year earlier. The positive figures put an end to 10 consecutive months of year-on-year falls.
But talk of a solid recovery is premature, given that the combined figures for the first half of the year are still negative.
Between January and June 2013, a total of 171,596 homes were sold, compared to 162,591 in the same period this year – that’s a fall of 5.2%. The second-quarter comparison also reveals negative figures, with a 7.3% drop in house sales from 2013 to 2014.
Some regions in Spain, however, are enjoying something resembling a boom. June saw a 30% increase in sales in Madrid compared to the same month in 2013, while Extremadura, Navarre and the Balearics all enjoyed similar rises, of 25.7%, 19.3% and 17%, respectively.
The positive figures are thanks mostly to the second-hand property market. Of the 26,076 sales closed in June, 16,257 were used apartments or houses, up 17.4% on the previous year. Meanwhile, the sale of new homes is yet to recover, falling 3% on last year’s figure for June, to 9,819 operations.