19 Dec, 2020 @ 10:00
1 min read

Property sales in Spain fall again but are miles better than springtime figures

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PROPERTY sales in Spain fell by 13.4% in October over a 12-month period according to the College of Notaries.

The figures are significantly lower than the 0.7% drop in September, but still far less than at the height of the pandemic in May.

Deals were severely restricted by the first State of Alarm that month, which saw an annual 53% decline in house sales.

Property mortgages granted in October stood at 36,167, down by 6.7%, compared to a year earlier.

The Notaries pointed out significant regional variations in home sales with the Balearic Islands down by 24.1% in October compared to September, followed by La Rioja, Madrid, and Catalunya.

In contrast, the Extremadura region saw a 15% hike in deals.

The largest year-on-year fall was in the Balearics at 31.2%.

The Brainsre.com real estate website says that the pandemic has also seen a marginal drop in property prices.

After analysing over a hundred online property sites and real estate agencies, they point out that before March, the average Spanish house price stood at €1,760 per square metre.

The price has since gone down by €7 per square metre between July and September.

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