Resale properties outsold new properties in Spain during 2014

According to the official Land Registrar, 318,929 properties were sold during 2014, 200,065 of which were second hand properties (or resales) representing 62.7% of total sales and 118,863 (37.3%), were new properties. This implies an increase of 18.4% in second hand property sales over the previous year. Another significant finding is that for the first time in four years, the number of overall sales has increased in Spain.

So far, the trend this year seems to be the same, with an overriding number of second hand homes being sold.

The main reason for this predominance is none other than the price, up to 15% cheaper compared with the sale of a new property. The average price per square meter of a second hand home is € 1,347, whilst new housing is selling at € 1,624/m2. There is also more margin for negotiation in the case of a privately held property, especially if purchased during the boom years, as the vendor may have been waiting some considerable time to sell and is keen to offload it as soon as possible.

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