House sales soared 52.8% in August in the Canary Islands compared to the same period in 2021 with 2,693 transactions closed that month, in an unparalleled real estate market boom in the rest of Spain, which more than triples the average growth of the sector.
Since January 2008, when 3,177 homes were sold in the Canary Islands, only once have figures like those seen this August been reached: it was in January 2020, with 2,980 transactions.
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In August, 2,190 second-hand homes and 503 newly built homes changed owners on the islands. Of the total, 2,583 transactions were made in the free market and 110 transactions involved homes with some type of protection.
House sales rose in all autonomous communities compared to August of last year, except in Madrid, Navarra and La Rioja.
After the Canary Islands, there were also significant increases in Asturias (30.5%); Aragon (26.7%); Andalusia (23.5%); Basque Country (20.8%) or Cantabria (20.3%).
In Spain as a whole, house sales increased almost 15% in August (14.9%), thanks in particular to second-hand homes, and totaled 57,327 transactions, the highest figure for this month since 2007, according to the National Institute of Statistics (INE).
Furthermore, compared to July, house sales grew by 6.7% and have been rising for eighteen months, waiting to see how the rise in interest rates to face inflationary pressure will affect them soon.
With this new increase, house sales have accumulated a growth of 20% since the beginning of the year.
Sales of used homes were the most numerous in August with more than 82% of the total, while the remaining 7.7% corresponded to new homes.
Used homes increased the most in August, 17% compared to the previous year, adding 18 months of increases, and totaled 47,206 transactions.
For its part, new housing totaled 10,121 transactions, 6.1% more than in August 2021.
