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Diario PYME

Housing Sales in Euskadi Rise in February, Best Month Since 2007

The Basque Autonomous Community recorded 2,248 transactions in February, an annual increase of 0.3%, surpassing the national decline.

Generic image of the housing market and real estate transactions.
IA

Generic image of the housing market and real estate transactions.

Housing sales in Euskadi saw an increase in February, with 2,248 transactions recorded, representing a 0.3% year-on-year growth and marking the best February since 2007.

The future trajectory of the housing market remains a significant uncertainty for the coming months. While some experts believe prices will continue at high levels, particularly due to conflicts in the Middle East, others suggest that a price ceiling is being reached, with little realistic room for further uncontrolled surges.
In the Basque Autonomous Community, housing purchase and sale operations totaled 2,248 in February, reflecting a 0.3% year-on-year growth. This figure stands above the 0.5% decline observed at the state level. This data represents the best February since 2007, a period when the real estate and construction markets were in a full expansion phase, which abruptly ended with the debt crisis and the Great Financial Recession.
Despite this annual increase, February's statistics show a slight decrease compared to the 2,361 operations in January and are far from the 2,674 operations in September of the previous year, which was the most active month since 2007. Recent indicators, such as Laboral Kutxa's consumer confidence study, highlight a growing general pessimism among households regarding the global economy, yet optimism about their domestic situation persists, potentially influencing the rise in housing sales in the CAV.
Data provided by the INE indicates that, of the purchase and sale operations recorded in Euskadi in February, 2,046 were for free-market housing and 202 for subsidized housing. Regarding property age, 557 operations involved new homes, and 1,691 were related to used properties. Notably, there was a strong 16% year-on-year growth in new home purchases, while used home purchases fell by over 4%. If this trend continues, it could reinforce the perception that the second-hand housing market is nearing its price peak.
Concerning the Historical Territories, Bizkaia closed 1,061 purchase and sale operations out of the total 2,248, while Gipuzkoa recorded 797 and Araba 390. In February, a total of 3,940 housing operations were carried out in Euskadi. Besides the 2,248 sales, 936 were inheritances, 55 donations, and 4 exchanges. By territory, 1,928 occurred in Bizkaia, 1,292 in Gipuzkoa, and 720 in Araba.

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