Property sales increased by 44% in the Canary Islands during 2021
According to data released by the Ministry of Transport, Mobility and Housing (MITMA), there were 24,535 transactions for residential properties in the Canary Islands during 2021, which is 44% more than the previous year. Housing transactions fell by 31% during 2020 due to the pandemic, but the real estate market recovered last year.
However, despite last year's 44% increase, the impact of the pandemic is still not fully overcome, because the 2021 figure is around 0.4% below that of 2019.
In Spain as a whole, there were 674,014 transactions in 2021 the highest figure since 2007, when there were over 830,000. The last quarter of 2021 showed the best data of the year, with 192,866 operations, according to the figures from MITMA.
Compared to 2020, those 674,014 residential sales represent an improvement of 38%, while if 2019, the year before the pandemic, is taken as a reference, the transactions for 2021 are 18% higher.
By type of property, the number of new home transactions in 2021 totalled 71,734, 37% more than in the previous year, but the increase was greater in the case of second-hand home sales, with a total of 602,280 transactions in 2021, 41% more than in 2020.
The property market has recovered nationally:
The national trend of recovery in the purchase of homes, after the fall suffered in 2020 due to the pandemic, has been replicated in all regions of Spain.
The Balearic Islands had a decrease in sales of 26% in 2020 compared to the data for 2019, however, transactions between 2020 and 2021 have increased by 53%, to close the year at 17,680 properties sold. The data for 2021 also exceeds that of 2019, with an improvement of 12.67%.
Andalusia also registered a growth of 44% in 2021 with 134,293 real estate transactions, and Valencia saw an improvement of 42%, with 99,068 sales at the end of last year.
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