Home Sales Up, But Prices Down in June

For sale_Barcelona
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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SPI News Feed provides general news about the Spanish property market and related articles translated from the Spanish press. For more in depth news, analysis, and opinion, see Mark Stücklin's blog.

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