Property Sales in November 2023 down 7.5%

Spanish home sales growth has been negative for 14 consecutive months show the latest figures from the Spanish notaries’ association.

There were 55,033 home sales witnessed by Spanish notaries in November 2023, down 7.5% in a year but even so the third-best November sales number in the last decade, as illustrated by the chart above.

Looking at regions of most interest to foreign investors, sales declined the most in Madrid (-21%) but actually increased in Murcia (+4.5%).

Sales last year only look unimpressive compared to 2022’s extraordinary boom that followed in the wake of the pandemic. In all other respects 2023 is turning out to be one of the best years in the last decade, performing an text-book soft landing after an unusual boom.

Source: Spanish Property Insight, January 2024