Notaries: Real Estate Sales Climbed 16.3% in June

20/08/2014 – Expansion

As per the data provided by the General Council of Notaries in Spain, home purchase in June demonstrated 30.231 transactions, meaning a 16.3% improvement in relation to the same month in 2013.

The considerable jump can be explained by the fact that the number of operations finally leveled out and the monthly sales went stable. Last year, the statistics were pulled down by the end of tax incentives for a home acquisition.

In the first half of the year, the sales averaged at 29.171 units sold monthly, pretty similar to the H1 2013 mean performance (27.958).

Speaking of the dwelling types, the purchase of apartments increased by 11.6% year-on-year, while price-before-tax homes went up by 12.6%. The rise shall be assigned to better-performing existing homes that enjoyed a 21.9% boost. New unsubsidized flats slid down by 24.4% YOY, while single-family houses jumped up by 37.9% YOY.

1.214 Euros / square meter on average

When it comes to average price, June set the values per square meter at €1.214, meaning a 5.7%, year-on-year decline.

Flats cheapened by 3.9% YOY to net 1.316 €/sq m. Existing units depreciated 5.5% YOY to 1.277 €/sq m, whereas new apartments went down by 10.6% to 1.603 €/sq m. In turn, single-family homes fell by 7% to 1.045 €/sq m.

Other properties represented 4.2% of the total (7.275 transactions) in June, out of which 42.2% were pieces of land or plots. Here the average price sat at 120 €/sq m, around 30.3% less than a year before.

In regard to new mortgages, they grew by 37.6% in the month of June, in line with the increase in purchases. In spite of that, average amount lent shrank by 5.1% YOY, halting at €106.639.


Original article: Expansión (after EFE)

Translation: AURA REE