Palma, Mallorca

Nationally, the most sales for a November since 2007. | S. Amengual

Majorca Daily Bulletin reporterPalma20/01/2022 10:09
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Latest figures for property transactions released by the National Statistics Institute point to a nationwide 24.4% increase in the sale of homes in November and one of 70.8% in the Balearics - the highest percentage increase in the country.

The year-on-year rise in the Balearics was ahead of La Rioja (+56.4%), Cantabria (+49.9%) and Andalusia (+43.8%). The lowest increases were in Aragon (+2%) and Castile-La Mancha (+5%). Only three regions failed to record increases - Navarre (-8.9%), Asturias (-3.8%) and Galicia (-1.3%).

Nationally, there were 49,895 sales of homes, the highest number for a November since some 56,000 in 2007 prior to the financial crisis. The increase in November followed eight months when there were year-on-year rises, the highest in percentage terms having been 65.9% in April and 107.6% in May. The November rise was slightly greater than in October - 22.2%. Compared with October, the monthly increase in November was 7.9%, the highest since 2017.

Of the sales in November, 10,341 were new homes. These represented a 30.5% increase compared with November 2020. Over the first eleven months of the year, all sales were up 34.7%.

In absolute terms, there were more sales in Andalusia in November than in any other region - 11,075 - followed by Valencia (7,529), Catalonia (7,431) and Madrid (6,094).