In February, the sale and purchase of homes saw a 5.8% increase compared to the same month in 2023, totaling 52,796 transactions, according to the National Institute of Statistics (INE). This growth marked the end of 13 consecutive months of year-on-year declines in home sales. The increase in home sales in February was driven by a significant rise in transactions for new apartments, which saw a double-digit growth.
Existing home sales also increased, albeit at a more moderate pace. Specifically, the sale of second-hand homes rose by 2.2% year-on-year to 41,268 operations, while new apartment transactions surged by 20.8% to 11,528 operations. The majority of homes sold in February were free homes (92.9%), with subsidized homes accounting for 7.1% of transactions. The purchase and sale of free homes increased by 6.7% year-on-year, while subsidized homes saw a 4.7% decline.
The Association of Construction Developers of Spain (APCE) highlighted the rise in new construction housing activity, emphasizing the need for housing creation to meet demand and stabilize prices. The data also showed regional variations in home sales, with Andalusia, the Valencian Community, Catalonia, and Madrid leading in property transactions. Overall, the real estate market saw a positive trend in February
