Home Sales Fell by 7.9% in July – First Fall of the Year

Sales of homes in Spain fell by 7.9% in July, compared with the same month of the previous year, and is the first decline registered so far this year, with a total of 39,841 transactions carried out, according to the latest data from the Notaries’ Statistical Information Centre. In seasonally adjusted terms, the reduction is 1.4%.

Apartment sales registered the most pronounced declines, falling by 10.2% year-on-year (4.7% in seasonally adjusted terms), followed by free price housing, with a decline of 10%, due to sales of second hand flats falling by 8.4% and sales of new flats falling by 22.6%. However, in contrast, sales of single-family homes recorded a slight increase, of 0.9%.

With regards to price, the price per square metre of the homes purchased in July fell by 3.6%, to an average of 1,274 euros, due to a decline in the price per square metre of single-family homes, of  4.6%, and the price per square metre of apartments falling by 2.3%.

Moreover, El Economista reported that the price per square metre of free price housing registered a decline of 1.7%, with the average price of second hand flats standing at 1,399 euros (-1.2%), while new flats had an average price of 1,844 euros per square metre (-0.6%).