Housing prices drop by 13,3% in June while the purchase of properties drops by 27%.

The average price of the properties sold during the month of June reached 1206 Euros per square meter, which means a drop of 13,3% in reference to the same month in 2012. The purchase of properties decreased by 26,9%.

As informed by the National Council of Notaries, “the real estate market registered in June an acceleration of the adjustment”. The accumulated drop in prices for all properties sold since the summer of 2007 reaches 34,9%. The sale of properties during the month of June dropped by 26,9%.

Regarding the cost of properties, when it comes to apartments, the fall of prices reached an 15,6%, down to 1305 Euros per square meter. Also the prices of free properties presented a descent of 15,6% in June, down to 1318 Euros per square meter. Among them, the cost of free new properties sold in June experienced a decrease of 28,9% (down to 1407 Euros per square meter) while the second hand ones experienced a drop of 8,7% (down to 1298 Euros per square meter).

Finally, the price of single family homes transferred in June reached 972 Euros per square meter, which means a descent of of 4,4%. On the other hand, the percentage of acquisition of homes with some kind of mortgage financing reached in June 31,4%. In these cases, the percentage on the price of the financed property reached 76,9%.

The number of new mortgages for the acquisition of a property decreased in June 39,8% and the average amount of them by 10,1% in reference to the same month of last year. On the other side, the purchase of properties dropped by 26,9% in June in reference to the same month of the previous year, down to 25252 transactions, after a spring where the adjustment of the sector had softened, according to this report.

As for types of properties, the transactions of apartments registered an annual descent of 27,7% in June, with a stronger descent in the first hand properties (46%) than in the second hand ones (14,1%). The sale of single family homes decreased in June by 23%.