New development property sales across Spain soared

New Development Sales Soar in Barcelona

26.06.19

Driven by a surge of transactions in Barcelona, new development property sales across Spain soared in the first four months of 2019, according to the latest market review from agents Lucas Fox.

The brokerage found that between January and April, sales of new homes nationwide more than tripled compared to the same time frame last year.

In Barcelona, sales increased nearly eightfold compared to the same period in 2018.

The increases logged in the east coast city are thought to be the result of the completion of a number of new construction projects.

“It’s been an excellent start to 2019 for new homes,” Joanna Papis, head of new developments at the firm, said in the report. “Scores of sales in Barcelona that had been in the ‘offer’ stage were completed in the year’s first quarter, and regions such as Girona, Sitges and Marbella will also see a good end to the year where many deals will finally be signed off.”

Buyers of new homes are primarily local, with Spanish buyers responsible for 30% of new development sales. But there has been a “major surge” in the number of buyers from the Middle East and the United States, who represent 23% and 5% of sales, respectively,  buying luxury homes.

Like transactions, prices of new homes are creeping up, too. The average price of a new property sold by Lucas Fox rose 23% to an average of €1.06 million (US$1.19 million) between January and April from €868,909 at the same time last year, the report said.

 

Abode Affiliates

  • Alleyne Real Estate
  • Blevins Franks
  • Coldwell Banker
  • Crane Resorts
  • The Hideaways Club
  • Monaco Real Estates
  • RDO
  • Rosemont Consulting
  • St Francis Links
  • Unique Home Stays
  • Yoo
  • Worldwide Dream Villas
  • Cyan International Properties
  • Enigma Yachts Limited
  • Cornerstone Tax Advisors
  • Lida Cucina
  • Pedini London
  • Alexander James
  • Wings
  • Moore Stephen
  • Ibiza Transit Express
  • Oyster Yachts
  • Jumeirah
  • Wall Street Luxury
  • Heron Real Estate
  • Edenhurst
  • MG&AG
  • Gama Property
  • Touch Design Group
  • St Edward
  • Ultra Villa
  • Luxury Italian Living
  • Habitat First Group
  • BDO
  • 7Storeys
  • Smart Currency Exchange
  • Strutt and Parker
  • Prestige Architects
  • Worldwide Property
  • Panorama
  • Dimora
  • Dominic McKenzie Architects
  • The Coastal House
  • Chamonix Ski Chalet
  • Luxe Caribbean Properties
  • Harry Manning
  • Smart Living
  • Isle Blue
  • MAS Marbella
  • London Fractions
  • QTD
  • Page Architects
  • Millgate
  • Jersey Finance
  • guernsey-relocations-logo
  • viberts-logo
  • b-williams-management
  • kpmg-logo
  • author-interiors
  • Wilkinson Beven
  • BoConcept
  • Ante Vrban
  • Experience Invest
  • Move 2 Gozo
  • Deborah Garth
  • Extex
  • You home
  • Ra Shaw Designs
  • Caudwell Collection
  • eastwood private client
  • accanto-interiors
  • Fritz Hansen
  • capital-rise
  • jarrods-staircase
  • neil-davies-logo
  • Tina Shone Group
  • Taplow riverside
  • Aimo
  • ns-ceramics-logo
  • Rusk

Enter your dream destination