Home sales in Spain surged 16.3 per cent compared to the same month a year earlier, but prices were down 5.7 per cent, according to data released today the Consejo General del Notariado.
The jump in sales is in a “normalization” in the wake of changes in tax laws, but it also represents a “stabilization” of monthly sales, the notaries said. The number of sales from January to June was similar to the number of transactions in the same period of 2013 – 29,171 in 2014 compared to 27,958 in 2013.
The biggest jump in sales activity was in flats, which showed an increase of 11.6 per cent.
The average price of a square meter was €1,214, a 5.7 per cent drop from a year and 35.7 per cent below prices in 2007.
Mortgage activity was up 37.6 per cent in June compared to the almost non-existent lending of a year ago, but the average amount was down 5.1 per cent, the notaries report. The price of resale flats was down 5.5 per cent from a year earlier.
The full report can be found here (in Spanish).
SPI Member Comments