According to the INE, in the fifth month of the year, 61,054 transactions were registered, 39.7% more than last year, marking the best May figures since 2007. With this latest increase, home sales have risen for 11 consecutive months.

The year-on-year increase in home sales in May was the result of both the upturn in new-build property transactions, which rose by 42.1% year-on-year to 12,785 transactions, and those involving second-hand homes, which grew by 39% to 48,269 transactions.

The greater increase in new-build properties has raised their share of the market to 20.9%, while their increase so far this year has risen to 31.6%, almost double the growth in second-hand homes (17.2%). The market as a whole grew by 20.1% year-on-year in the first five months of the year.

On the other hand, 93.6% of the homes sold in May were private homes and 6.4% were subsidised homes. In total, the sale of private homes rose by 41.8% year-on-year to 57,172 transactions, while the sale of subsidised homes increased by 13.9% to 3,882 transactions.