Home sales in Spain increased by 14.7% in 2022, the highest figure since 2007

Home sales in Spain reached 650,000 in 2022, the highest total recorded since 2007, when almost 780,000 homes were sold.

Figures from the National Institute of Statistics (INE) showed a 14.7% increase in sales compared to the previous year despite an annual fall of 10.2% in December caused by the increase in interest rates and the increase of financing costs.

With the exception of 2020, which was an atypical year due to the pandemic, home sales have exceeded 500,000 per year in Spain since 2018.

Existing homes accounted for 532,459 sales in total 2022.

The INE report says that the Valencian Community was the most active peninsular region in terms of properties per 100,000 inhabitants, behind the Canary Islands and the Balearic Islands.

The area registered 99,448 sales, 23.9% more than the previous year, closing most of the operations in the province of Alicante, which continues to attract foreign home buyers.

The region with the highest number of purchases was Andalusia with 135,976, followed by Catalonia with 102,108, with the Valencian Community in third place.

The only region that recorded a drop in home sales was Navarra.