Housing unaffected by war outbreak in Ukraine: Purchases increased by 25.6% and recorded best march in 15 years

National Statistical Institute

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The transaction has thus been chained for three consecutive months with sales above 50,000, a symbolic level that has recovered again as a result of the real estate fever spread by the pandemic.

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Promotion of houses under construction in Valencia.miguel ngl polo

The start of the war in Ukraine did not discourage potential home buyers in Spain, on the contrary. Transactions reached in March 59,272 Operations, which is 25.6% more than in 2021 and Best record in that month of last 15 years, The market continues to show signs of strength thus confirming its return to the levels of the previous real estate bubble.

Not in vain, March was chained for three consecutive months with sales above 50,000, a symbolic level that recovered again as a result of the real estate fever sparked by the pandemic. And even in March there were 13 months in a row of trading at positive rates.

According to data published this Friday by National Statistical Institute (INE)The increase was the result of an increase in new homes (+15.7%) operations to 11,510 operations, its highest figure since January 2014, as well as an increase in sales of older apartments (+28.3%). ) to add 47,762 transactions, a record figure since January 2007, as stated. Europa Press, In addition, of the homes transferred by sale in the third month of the year, 92.1% were free homes and 7.9% were protected.

“The offset of the INE data takes us to the actions signed in late February and March at the start of the war and when the financial system was already showing signs of an upcoming rise in mortgage prices, which could have advanced such Buy multiple homes to take advantage of cheap financing The good news is, for now and despite the fact that store Available continue to fall sharply, these stresses have not been transferred to prices, although there is no denying that if this situation continues over time, they do. francisco erratareal estate portal spokesperson idealist,

In this line he also noted Mara MatosStudy Director and Spokesperson FotocasaFor whom “these dynamic figures are in line with the boom in the housing search, to try to avoid the imminent rate hike announced by the ECB. In addition, another factor that continues to stimulate home purchases is uncertainty. If All we can say about real estate is that during the pandemic it has risen to the face of an exogenous crisis, from which it has been reinforced, and it is likely to serve as a refuge by housing in the event of war. The investment appetite of individuals attracted to the value in another context of prolonged economic insecurity.

For Community, the highest home sales per 100,000 inhabitants occurred in the Valencian Community (213), the Balearic Islands (197) and Andalusia (182). In absolute values, Andalusia was the region with the most domestic transactions with 12,248 sales, followed by Catalonia (9,318), the Valencian Community (8,566) and Madrid (7,816).

All autonomous communities sold more homes in March than in the same month of 2021, although the biggest year-on-year growth was in the Balearic Islands (+99.5%), Valencian Community (+40.1%), Andaluca (+37.1) Was. %) and Murcia (+33.3%), while the most moderates correspond to Madrid (+4.5%) and Cantabria (+6.5%), the only regions with single-digit growth.

New Construction

Another key to this new housing boom is the boom in new construction. In the first three months of the year, overall sales increased by 26.7%, with older homes up 30.3% and newer homes by 13.9%.

In March alone, 11,510 new domestic transactions were conducted, representing a year-on-year increase of 15.7%. “Many Spaniards are opting for brand new housing developments for a variety of reasons and one of them is that they usually have common spaces such as gardens or swimming pools and in most cases they have a terrace, which allows for confinement. After the citizens become necessary, we can find ourselves with a The problem of rising prices If demand continues so latent. Not only because of runaway inflation, which affects the cost of materials, production and logistics and which has caused the slowdown and paralysis of some promotions, but also because of strong and solvent buying demand compared to the very low production levels of the brand as well. Home”, adds Matos from Fotocasa.

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