70% increase in real-estate sales in the Balearics in November

Strong signs of recovery in the property market. | Europa Press

Majorca Daily Bulletin reporterPalma12/01/2022 11:07

Provisional data for November from the College of Registrars point to a nationwide increase in the sale of homes of 23.2% compared to 2020 and 26.7% compared to 2019. This is based on 46,140 transactions. In the case of the Balearics, there was a rise of 72.4% in real-estate transactions to 3,333. Elsewhere, there were increases of 34.4% in Andalusia and 32.4% in Cantabria.

The College says that the year started with negative data, but that these began to change from March. Over the first five months of the second half of 2021, the annual increase in sales highlighted "positive evolution in the real-estate sector".

The total number of mortgages granted in November 2021 was 47,449, 23.3% more than in 2020. For mortgages for homes, the growth was 23.1% (33,926 operations). Compared to 2019, it was up 25.4%. This also shows a trend of "intense growth", similar to that shown by sales and purchases.

The Canary Islands was the only region where there was a decrease in the signing of mortgages - 1,359, down 17.7%. In La Rioja, there were 81.3% more than in November 2020; in the Balearics, 56.4% more.