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Home Sales Up, But Prices Down in June

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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).

Notary data_June_2014 (900 x 505)

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