Home appraisals increased

The number of real estate appraisals in Spain grew by 57.3% in the first half of 2021 year-over-year, reaching 233,300 operations — slightly above 2018 levels, hitting a new high, according to data from the Spanish Association of Valuation Analysis (AEV).

Additionally, the average appraisal amount from January to June was €212,000, which is 3.8% higher than in the first six months of 2020.

The average value of appraised housing has been steadily growing since 2014. According to AEV, this is explained by rising market prices and changes in the characteristics of appraised properties — they are now larger and located in more expensive areas.

Paloma Arnais, General Secretary of AEV, stated that “part of this surge in activity is related to the realization of pent-up demand” after lockdowns, and that it demonstrates “positive dynamics in the real estate sector as a whole.”

Sales and purchases increased in July

The National Institute of Statistics (INE) reported this week that the volume of real estate purchase and sale transactions in July grew by 53.5% year-over-year, reaching 50,258 operations.

Specifically, 18.9% of these transactions were for new construction and 81.1% for secondary housing. New construction sales grew by 40.2% compared to July 2020, while secondary housing sales increased by 56.9%.