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ARCHIVED - August property sales in Murcia drop sharply along with the rest of Spain
A 16 per cent drop in August follows the highest figure for 8½ years in July
There are times when analysing trends in the property market in the Region of Murcia is a difficult task, and a good case in point is the publication on Thursday of the August sales figures by the government’s central statistics unit.
Following the highest monthly total for 8 and a half years in July it appeared that the market recovery was continuing to gather momentum, but in complete contrast the August data show a year-on-year decrease of 16.7 per cent to 1,185 transactions. Such significant upward and downward movements cancel themselves out in the longer term, of course, and as a result after eight months of 2019 the cumulative total of property sales in the Costa Cálida has reached just 1.2 per cent more than at the same stage in 2018 (at 11,204).
At the same time the running 12-monthly total of transactions registered in the Costa Cálida stands at 16,591 (7.8 per cent higher than a year ago), meaning that there has been an increase of as much as 78 per cent since the market bottomed out in August 2014.
Another point to bear in mind in analysing the August figures is that they fell sharply in all of Spain’s 17 regions, the sharpest decreases being those of over 40 per cent in Extremadura and the Canaries. As a result the running 12-monthly total is now at just over 509,000 (just 0.8 per cent higher than a year ago).
As usual the busiest regional market in terms of sales per 100,000 inhabitants of property-buying age during the month was the Comunidad Valenciana, with a figure of 136, due in large part to the frequency with which properties in the Costa Blanca change hands among the non-Spanish population, while the corresponding figure for Murcia was 103.
It is also worth noting, in the context of reports of increased demand for new housing in Spain and an upturn in residential construction activity, that the proportion of sales accounted for by new properties in Murcia was only 15.6 per cent, with 185 transactions reported.
To view a wide range of properties for sale across Spain consult the Spanish property page.
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