Housing operations till November already exceed these of all of 2024 | Housing | Economy | EUROtoday

The actual property market stays agency in its need to interrupt data. According to the information revealed this Monday by the National Institute of Statistics (INE), though fewer homes have been bought in November than in October, 58,546 particularly, they have been sufficient in order that, added to the remainder of the operations which have taken place all year long, these exceed the entire gross sales for all of 2024. Thus, with one accounting month left to finish the 2025 fiscal yr, 662,114 operations have already been accomplished, nearly 20,000 greater than in the whole final yr. The gross sales quantity recorded in November is, moreover, the very best for this month in a historic sequence that dates again to 2007, even surpassing the numbers that occurred throughout the actual property bubble of that yr; and it’s 7.8% above what occurred in the identical month final yr.

November tends to be a month of inertia in the actual property market, so it’s common for it to catch on to the pattern that often happens after the summer time break, and which usually tends to be upward. For 2025, nevertheless, the identical factor occurred as for 2024, and in each instances fewer operations have been recorded than within the month of October. In the latter, the drop was 9,243 gross sales, a lot decrease than the earlier yr (then it was decrease by 15,191 operations). Thus, the entire variety of signatures was established at 58,546, the very best worth for this time of the yr, exceeding the 56,188 that occurred in 2007, earlier than the bubble burst.

This report determine is what has allowed the entire operations within the first 11 months of 2025 to be larger than that of all of 2024: 662,114 in comparison with 642,425, respectively, giving rise to the likelihood that on the finish of the yr 700,000 operations could possibly be exceeded – a forecast that the sector has been sustaining – which might additionally imply breaking a barrier that has remained agency since 2008. The common variety of operations per thirty days occurring in 2025 is simply over 60,000, properly above the 53,500 that have been closed a yr in the past, which helps this prediction.

For Ferran Font, Director of Research at Pisos.com, the information “confirm a new year-on-year advance and reinforce the idea of ​​a market that remains at very high levels of activity, close to historical highs.” In his opinion, “demand continues to show strong dynamism, supported both by expectations of price revaluation and by an interest rate environment that still allows access to mortgage financing under attractive conditions.” Regarding the evolution of costs, Font signifies that the present context “contrasts with a clearly limited supply”, which signifies that, “in the short term, prices will continue to evolve upwards in line with the current trend.”

“The great bottleneck continues to be supply. There is a lack of housing for sale and, above all, affordable housing. As long as this imbalance is not acted upon, the market will continue to be stressed,” provides Iñaki Unsain, Real Estate Personal Shopper and normal director of ACV Gestión Inmobiliaria.

The INE knowledge relating to Transfers of Property Rights – which is the official identify of the desk – for November present that the amount of operations that occurred within the penultimate month of the yr was the third lowest of the whole yr (solely forward of the information for April and August), and that with them the upward pattern that had been maintained within the earlier three months (August, September and October) is damaged.

This drop in November has been based mostly on the drop within the variety of operations that has occurred in nearly the whole nation, in 16 of the 17 Autonomous Communities, except La Rioja (the place 60 extra operations have been signed). Among the territories with probably the most pronounced falls, in absolute phrases, are Catalonia (-2,778), Andalusia (-2,458) and Madrid (-1,835); whereas, percentage-wise, the biggest discount in the whole nation has occurred within the province of Albacete (-52%).

VPOs fall

For one other month, second-hand properties have surpassed these of latest building (45,804 to 12,742), in the identical manner that vacant properties have as soon as once more capitalized on operations forward of formally protected ones (54,790 to three,756, respectively). In reality, VPOs recorded their second worst acquisition determine of the whole yr in November, solely forward of August (3,149), a historically chilly month for the actual property market as it’s within the heart of the summer time holidays.

“That the market moves almost exclusively on used housing confirms that the demand is still there, but also shows the limit of the current model,” says Robin Decaux, CEO of Equito. “The activity exists, but the segment that should sustain access and stability of the system in the medium term is not being strengthened,” he provides.

As for the entire operations, including all sorts of properties, this has been 200,881 interventions, 9.5% lower than in October, however 6.4% greater than in the identical month of 2024. And all although the variety of rural properties transacted was 38,352 (4,501 lower than in October); and that the variety of plots bought additionally fell (from 8,388 to eight,122).