Spain: Real estate sales surge 37% from 2019

According to the notaries’ association, Spanish home sales boomed in March, with 70,812 properties sold. In the first quarter of this year, the number of deals totalled 173,688. This is a 16% increase on last year and a 37% rise on the pre-pandemic year of 2019.

Compared to 2020, when the housing market was severely hit by Covid-19, home sales in Spain soared by 118%. 
All regions, except for Murcia, saw a jump in sales. The biggest growth was observed in the Canaries (+45%) and the Balearics (+21%).  In touristic Andalusia and the Valencian region sales were up 23% and 21%, respectively. 
The figures show that the post-pandemic recovery is well underway despite the emerging economic challenges. People tend to use real estate as a hedge against rising inflation, and increasing interest rates encourage prospective home buyers to accelerate their plans and lock in deals before mortgage costs rise. 
Source: spanishpropertyinsight.com