The Spanish Registrars Association published the information note, which includes real estate sales statistics for 4T 2020 and shows the trends of Spanish housing market.
During 2020, 419,898 home purchases were registered, down 16.7% over 2019, falling back to mid-2017 levels.
The trends of Spanish housing market
As it is mentioned in the document, single-family housing became more popular.
77.5% of housing purchases and sales during the fourth quarter were of collective housing (flats) and 22.5% of single-family housing. Compared to the previous quarter, there has been an increase of single-family home sales, which achieved a new maximum in the historical series (since 2005).
Besides the customers became more likely to choose the single-family housing with greater average surface area and open spaces (terraces and gardens).
The average housing surface has increased (0.9% over the previous quarter) and reached 102.1 m2 for the housing. The average area in new free-standing housing has risen to 110.9 m2. Thus the demand for housing reflects current trends of Spanish housing market during the course of the pandemic.
More than a half – 52.4% – of the purchases of flats have a surface area of more than 80 m2. The dwellings between 60-80 m2 have accounted for 28.0%. Those with a surface between 40-60 m2 – 16.4% and those with less than 40 m2 – 4.2%.
Real estate sales statistics for 4T 2020
Between October and December, there were 113,799 house sales, +11.4% over the previous quarter.
In new housing, 22,842 purchases and sales have been registered, growing 0.9% over the 3T 2020. Resale housing, with 90,957 operations, grew 14.3% quarterly.
Comparing with the same quarter of 2019, the annual decrease in the 4T 2020 was 16.7%. Totaly, 419,898 home sales have been registered in 2020, falling back to annual levels of the first half of 2017.
Where do the foreigners buy the property in Spain?
In the fourth quarter 2020, home purchases by foreigners stood at 10.7% of home purchases, below the 11.4% in the 3T 2020.
On the contrary, in total, there has been an increase of the volume of purchases by foreigners, reaching more than 11,800 operations, in comparing to the nearly 11,400 during the previous quarter.
The leading nationalities in purchases were British (14.5%), French (8.3%), Germans (8.1%), Moroccans (7.4%) and Belgians (6.1%).
Among the regions of most interest to foreign buyers there are Balearic Islands (32.7%), The Canary Islands (22.5%), the Valencian Community (21.7%), the region of Murcia (19.4%), Catalonia (11.4%) and Andalusia (11.3%).