PROPERTY sales in Spain fell by 2% in May compared to a year earlier while prices rose by 6.7%, according to figures compiled by the General Council of Notaries
New mortgages in May had an annual rise of 7.4% with 31,723 loans granted.
The sales fall comes after notaries reported a slowdown in April, clocking in a 1.3% increase- though the Easter period was a factor.
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The notaries report contrasts dramatically with recent data from the National Institute of Statistics (INE), which showed that sales rose by nearly 40% in the best May in 18 years.
The average price per m2 stood at €1,836 in May, which represents an increase of 6.7% year-on-year.
The highest increases were in Murcia (+37%), the Basque Country (+14.5%), and Cantabria (+14.3%).
By types of home, sales of flats decreased by 4.1% year-on-year, reaching 47,241 units, while single-family homes increased by 5.2% year-on-year, reaching 15,345 units.
The prices of flats rose by 7.6% compared to the same month of the previous year, hitting €2,101 per m2, while the price of single-family homes averaged €1,371 euros- up 5.8%.
House sales grew in just four regions with increases in Galicia (+17.5%), Castilla la Mancha (+14.8%), Castilla y Leon (+14.1%), and Aragon (+4%).
The biggest falls were recorded in La Rioja (-21.4%), the Balearic Islands (-12.0%), and Extremadura (-8.5%).
The price per m2 rose by 6.7% year-on-year in Spain, with 16 regions reporting increases and the only fall was in Navarre(-15.7%).
The largest price hikes were in Murcia (+37%), the Basque Country (+14.5%), Cantabria (+14.3%), and the Canary Islands (+13.8%).
Mortgage loans grew by 7.4% year-on-year in Spain, to 31,723 operations, with an average amount that rose by 11% year-on-year, reaching €171,212 on average.
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