8 August 2019
The sale of homes in Spain fell by 9% y-o-y in June, as the INE registered a total of 40,961 transactions. The fall was the steepest since February 2014.
New home sales fell by 7.8%, year-on-year, to 7,205 transactions (17.6% of the total), while existing home sales dropped by 9.2% to 33,756 transactions (82.4% of the total). Month-on-month, housing sales fell by 13.9%, according to Spain’s statistical agency, the INE.
Some regions still saw significant growth, such as Castilla-La Mancha (+9.2%), Murcia (+7.2%) and Galicia (+4.5%), while steep falls were seen in the Canary Islands (-22.5%), the Balearic Islands (-17.4%) and Aragon (-13.9%).
Market watchers point to a period of adaptation after the entry into force of the mortgage law, a less benign international economic environment and a generalised slowdown as the pace of growth moderates due to a maturing market.
Original Story: Expansión – M. G. Mayo
Adaptation/Translation: Richard D. K. Turner