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ARCHIVED - Murcia house sales and purchases up almost 40 per cent on 2020
Real estate transactions in the Region of Murcia rebounded in 2021 compared to the previous, lockdown-affected year
The real estate sector in the Region of Murcia was dealt a huge blow due to the pandemic in 2020, but bounced back with a vengeance in 2021, a year of recovery which saw an overall 38.1% increase in house sales and purchases.
According to data from the General Council of Notaries published on Thursday February 10, a total of 23,376 transactions took place last year.
And it’s not just the number of properties that changed hands that rose in 2021. The average cost per square metre also leapt 4.5% per cent to 887 euros.
Most in demand in 2021 were single-family dwellings, with 8,162 homes bought or sold, a 39.1% increase on the previous year, and a rise of 6% in property prices as the cost per m2 averaged at 851 euros.
Next up were flats, with 37.6% more transactions than in 2020. Some 15,514 apartments were bought or sold at an average cost of 914 euros/m2 – up 3.3% on 2020.
With regards to new builds, a study has been carried out by real estate experts Sociedad de Tasación (ST Appraisal Society), on new housing in the Mediterranean strip during the second half of 2021. The analysis shows a 2.9% increase in this particular sector of the market, with an average price of 1,299 euros/m2, ahead of the Valencia region (+2.7%) and Andalucía (+2.6%).
Estate agents attribute the growth to “contained demand", in that all the homebuyers who would have purchased or sold in 2020 but were restricted due to the health crisis, took advantage of the opportunity to exchange keys in 2021, which led to a 41.3% hike in mortgage agreements.
Likewise, the upturn in new construction has also played its part as the sector experienced its own recovery of sorts.
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The Murcia Region’s percentage increase in property sales and purchases mirrors that of Spain as a whole with a total of 676,775 transactions in 2021 nationwide and a 5.3% rise in the average cost per sqm, which now stands at 1,507 euros.
Thirteen of Spain’s 17 autonomous communities experienced an increase in the price of housing, with the highest increases recorded in the Balearic Islands (+14.2%), followed by Andalucía (+8.1%), the Canary Islands (+7.9%), Navarra (+7.4%), Madrid (+7.1%), Valencia (+5.6%) and Galicia (+5.6%).
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