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ARCHIVED - Relatively slight effect of the pandemic on property sales in Murcia
Sales figures in 2020 were down by 12 per cent in Murcia but 17.7 per cent in Spain as a whole
Data published on Monday by the Spanish government’s central statistics unit report that the number of residential properties bought and sold throughout the country during 2020 fell by 17.7 per cent in comparison with the year before to 415,748, a decrease brought about primarily by the coronavirus pandemic which reached Europe just over a year ago.
In March, April and May of last year the effect of the first wave of coronavirus on Spain’s property market was particularly drastic, and it was not until the autumn that levels of activity similar to those observed in 2019 were apparent again. At the same time, though, in some areas the international travel restrictions led to a sharp fall in the number of homes being bought by non-Spaniards, and in the light of this it is perhaps not surprising to see that the sharpest falls in house sales in the 17 regions of the country were those reported in the Balearic Islands (-23.2 per cent), the Comunidad Valenciana (-22.1 per cent) and the Canaries (-21.9 per cent), followed closely by Madrid and Catalunya.
In addition, it can be seen that the drop in sales was especially notable in the province of Alicante, where foreign buyers, especially UK nationals, can sometimes account for as many as half of all residential property purchases. Here the annual total fell by 24 per cent, while at the other end of the scale are the regions of Extremadura (-6.5 per cent) and Asturias (-9 per cent).
However, the Region of Murcia appears not to have been so badly affected by the decrease in sales to non-Spaniards, recording a 12 per cent drop in overall sales last year with a total of 14,677, according to the provisional figures. This reinforces the impression that the underlying health of the Costa Cálida market is relatively robust at present, and it is just possible that the negative effects of the pandemic were mitigated to a certain degree by UK nationals hurrying to finalise their purchases in Murcia before Brexit took effect at the end of the year.
In this context it is worth pointing out that the market in the Region of Murcia was the second busiest among Spain’s 17 regions last year, with an average of 1,258 transactions per 100,000 inhabitants of house-buying age, a figure exceeded only in the neighbouring Comunidad Valenciana (1,469).
Alicante property sales fell by 24 per cent in 2020 as the pandemic hit hard: In the Costa Blanca the effect of the first wave of coronavirus was so severe that by May the number of property sales being registered had fallen to close to a third of the level recorded a year previously, and even when a semblance of normality returned to the market in the autumn the level of late 2019 was not recovered. The December data reflect this, showing 2,445 sales after a year-on-year fall of 7.4 per cent, and the year ended without the monthly figures for 2019 having been exceeded in any single month.
Nonetheless, it is worth pointing out that the market in the whole of the region of Valencia was once again the busiest among Spain’s 17 regions, with an average of 1,469 transactions per 100,000 inhabitants of house-buying age. Click for full Alicante report