The real estate market in the Region of Murcia has started the year at full speed. At least this is confirmed by the different partial data that are known in these first months of 2024. The latest official statistics on the transfer of property rights published yesterday by the INE precisely confirm a year-on-year increase of almost 20% in the sale of property. homes registered in February. This is the third highest increase by community, only behind Navarra and Galicia.
It must be taken into account that the average rate of improvement in operations in Spain compared to the same month of the previous year was 5.77%; which, in any case, represents a return to positive rates after the adjustment experienced. Hence the value of the evolution index of residential transactions in Murcia, which rises by about 14 points more than in the country.
Furthermore, the 2,334 homes counted in the Region represent the second best absolute figure for the month of February in the historical series, in addition to marking a growth of 12.97% when compared to the January index. In addition, we must add the 454 transfers of housing due to inheritance, 103 donations and 3 exchanges.
The amount
2,334
Registered homes
A total of 2,334 home sales were registered in the Region of Murcia in February, according to INE statistics, of which 539 units were new homes, compared to 1,795 second-hand homes. The global volume of properties transferred that month amounted to 5,472
With the progress recorded, sales in Spain put an end to 12 consecutive months of year-on-year declines. A reactivation that has been due, above all, to the increase in operations on new apartments, which grew by double digits. While used ones also rose, although at a more moderate pace.
The director of studies at the Pisos.com portal, Ferran Font, highlighted yesterday that the figures reveal that the sector “changes the trend and grows again after twelve months of uninterrupted falls” in the country as a whole.
After the Region of Murcia, the largest increases occur in Castilla-La Mancha, Cantabria and the Valencian Community. On the other hand, the most moderate were for Madrid and the Basque Country. While Castilla y León, Andalusia and, above all, the Balearic Islands and the Canary Islands, maintained a negative performance, with declines above double digits.
Additionally, during February, 5,472 urban properties were transferred in the Community through 3,663 sales. Likewise, 1,321 transmissions were made about rural properties.
Fort maintains that with all this data “a change in the trend begins that could already be sensed in the evolution of the previous figures”, although it remains to analyze the market to see “how this new reality is transferred to prices.” And since it has not fallen at times of clear market slowdown, he maintains that “in all likelihood, they will increase their growth rate.” Some forecasts that, however, are subject to the evolution of the situation, where the modification of rates in the EU can have a significant influence.
Finally, according to a study published this Monday by Idealista, the supply of housing for sale in the Region decreased by 6% in the first quarter compared to the same period last year, identical to the national average.
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