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Dark Clouds Gather Over Spain’s Real Estate Market as Housing Sales Fall by 21% in August

14 October 2019 – Market watchers have been issuing warnings recently regarding a potential slowdown in Spain’s residential real estate market. After years of rapid growth, and after prices have reached new heights due to constrained supply, talk has turned to a moderation in growth or even some level of stagnation.

Last week, the country’s National Institute of Statistics (INE) released data on the sale of homes in August that seemed to confirm such fears. A total of 35,371 housing sales occurred in Spain in the month, the lowest figure since August 2015. The retrenchment affected both the sales of new (-21%) and existing homes (-21.1%), the latter of which accounts for approximately eight out of every ten sales. Monthly sales took a bigger hit, falling by 26.1% from July to August, the biggest decline for that month of the last five years.

Original Story: El Mundo – Marcos Iriarte

Adaptation/Translation: Richard D. K. Turner