Andalusia at the Beginning of the Sale
February activity in the housing market shows a 6.6 percent year over year drop, with total transactions reaching 50,186 as higher interest rates aim to curb inflation, according to the National Institute of Statistics. This annual decline marks a return to negative momentum after January logged over 56,300 deals.
The dip in February was felt across both secondary market apartments and new-build homes. Second-hand house deals slipped by 5.5 percent, totaling 40,479 units, while transactions involving new flats fell 11.1 percent to 9,707 units.
In February, 92.2 percent of houses sold were free of charge, and 7.8 percent were purchased under protected status. Private home sales dropped 6.5 percent year over year to 46,255 transactions, while subsidized sales declined 7.9 percent to 3,931 transactions.
On a monthly basis, February compared with January recorded an 11 percent fall, marking the steepest February decline in five years.
INE data show that two out of every three house sales in February were conducted by individuals, making up 66.9 percent of all deals. A total of 33,590 private transactions were carried out among private buyers, down 6.3 percent from February 2022. Through the first two months of the year, overall home sales dipped 0.1 percent as new home transactions declined 2 percent while used-home deals rose by 0.4 percent.
Andalusia at the Beginning of the Sale
In February the highest housing activity per 100,000 inhabitants occurred in the Community of Valencia (202), followed by Murcia (165) and La Rioja (152).
In absolute terms, Andalusia emerged as the leading region for housing operations in February, with 9,795 transactions. It was followed by the Community of Valencia (8,241), Catalonia (7,857), and Madrid (6,388).
Fifteen communities reported fewer home sales in February 2023 than in February 2022. The most notable decreases were in La Rioja (-23.6%), Cantabria (-17.9%), Extremadura (-16%), and Madrid (-15.6%), while Murcia (-1%) and Catalonia (-1.2%) posted the smallest declines.
Year-over-year, buying and selling activity rose in February in certain areas, notably Asturias (+19.9%) and the Community of Valencia (+2.9%).
The Total Number of Farms Transferred Decreased by 8.8
Transfers of farms from public title deeds to land registries fell by 8.8 percent in February compared with the same month a year earlier, totaling 182,869.
Selling farms dropped by 8.7 percent, while donations fell by 25.3 percent. Inherited transactions increased by 0.4 percent, and barter transactions fell by 12.8 percent.
Urban residences accounted for 86.9 percent of February sales, with 13.1 percent involving homes in rural or rustic settings. Compared to February 2022, urban property sales declined by 8.6 percent year over year, while rustic property sales fell 9.9 percent to 86,126 and 12,928 operations respectively.