16 June 2015 – El Economista
House sales increased by 1.9% in April, with 30,758 transactions, whilst the average price of properties sold decreased by 3.9% to €1,188/m2, according to data from the General Council of Notaries, published on Monday.
These percentage changes reflect a moderation with respect to the increase recorded in sales in March (+12.3%), as well as the drop in prices observed during that month (-7.5%). According to the same source, house prices have accumulated a total decrease of 37% with respect to the peaks reached in 2007.
By type of property, the sale of flats increased by 1.3% in April in YoY terms. In the free (unsubsidised) market, the increase was 1.1%. The rise in the number of flats sold was driven by an increase in the sale of second-hand homes (+5.9%), which more than offset the decrease recorded in the sale of new flats (-27.3%). Meanwhile, the sale of family homes increased by 4.2% in April.
In terms of prices, on average, flat prices decreased by 3.2%, with the price of second-hand flats falling by 3.3% and new flat prices increasing by 2.7%. Meanwhile, the price of houses (chalés) decreased by 2.9%.
During the fourth month of the year, the sale of other types of properties decreased by 9.1% to amount to 6,987 operations, of which 37.7% related to land and plots. The average price per square metre of these transactions was €123, i.e. 18.4% lower than in April 2014.
According to the same source, the evolution of the mortgage market for the acquisition of homes reflects the stabilisation observed in the real estate sector, “with an increase in total credit”.
Thus, in April, 12,716 mortgage loans were granted for the purchase of homes, i.e. 12.3% more, for an average amount of €122,199, i.e. 13.1% more. The percentage of home purchases financed using a mortgage loan was 41.3%.
Original story: El Economista
Translation: Carmel Drake