Shares in housing sales increased approximately 17% in March compared to the same month of 2015, adding up to 31,925 operations, according to recently published by the National Statistics Institute (INE) data. These data confirm a quarter-on-year rise. The second-hand market has been responsible for the progress of the sale of homes in the first quarter. Shares of used homes increased by 24.2% year on year, to a total of 25,765 operations.
In the first three months of 2016, housing sales accumulates an increase of 9.2% over the same period of 2015, thanks to advances in 16.9% of operations on existing homes, as those made on new homes recedes 13%. In March, the highest number of house sales per 100,000 population occurred in Balearics (108). And it is that in the long-distance race contesting the Spanish real estate to sell more houses are winning thrashed that used. Sales were up in 2014 for the first time in four years and continue to do so thanks to this typology.
The difference between new and used is becoming larger mainly for the price, something more affordable for the buyer. The used is between 5% and 15% cheaper, the difference between an average home used in Spain, and a new one is approximately 400 euros per square meter according to the Tinsa valuer, being able to reach peaks of up to 1,000 euros difference per square meter in some most exclusive areas. Another point in its favor is that it is engraved with less taxes. Brand new properties are subject to a 10% VAT, while already inhabited support the transfer tax (ITP), whose rate varies from 6% to 10%, along with certain exceptions, have better location. As regards its state obviously it is important. It is possible that the buyer has to invest a few euros in a facelift or comprehensive reform but generally, most customers prefer to buy a house in a nice building, update or reform it to your liking and pay 20% less than you would pay for a new one.
As a specialist in Real Estate Law in Mallorca, we offer comprehensive advice in the process of buying and selling property. Our greatest asset is an infrastructure of professional leaders in each field of action, especially Real Estate and Tax, as well as our international vocation and multilingual capacity.
