Spain Property News

Home Sales in Spain Rose by 16.3% in June

Home Sales in Spain Rose by 16.3% in June

Home sales in June reached a total of 30,231 transactions, representing a rise of 16.3% compared to the same month in 2013, according to statistics published on Monday by the General Council of Notaries.

The Notaries say that this rise in the volume of transactions in recent months is due to the normalisation of the figures following the end of the tax deductions for home purchases at the end of 2012, but also reflects a “stabilisation” in the market for monthly sales.

Diario Sur reported that, in June, the sales of family homes increased most, showing growth of 37.9%. Meanwhile, the sale of apartments increased by 11.6%. This rise in apartment transactions is due to the increase in sales of second-hand apartments, of 21.9%, compared to sales of new construction apartments, which fell by 24.4%.

Homes sold in that month had an average price of 1,214 euros per square metre, which is 5.7% less than in the same month of 2013, with the reduction being greater for the family homes (-7%) than for the apartments (-3.9%).

In line with these data, mortgage loans for home purchases rose by 37.6% in June, although their average value reduced by 5.1% to 106,639 euros.