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INE: One Third of House Purchases in León in 2018 were Financed by Cash

2 March 2019 – Diario de León 

According to Spain’s National Institute of Statistics (INE), 3,128 homes were sold in the province of León in 2018, of which one in three were paid for in cash. This is a growing trend in the real estate market, as savers look for investment alternatives in the face of instability in the financial markets and the high returns being offered by property, due to house price rises and rental price increases.

In the province of León, 2,024 mortgages were signed in 2018, up by 4% YoY, whereas 11% more house sales were recorded compared to 2017.

Original story: Diario de León (by María J. Muñiz)

Translation: Carmel Drake