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Home Sales in Spain Down in August

Home sales in Spain fell 14.4% in August

Home sales in Spain fell 14.4% in August

Property transfers in Spain saw a 7.3% fall in August, when compared to the same month of the previous year. The total number of properties transferred in the public registry was 166,982.

For the number of sales of properties, the number was 93,917, which is 11.5% higher than in August 2022.

Of those sales, 88.3% were those of urban properties, while 11.7% were rural properties. In the case of urban property sales, 59.4% were sales of private dwellings, according to data from the INE.

The number of purchases and sales of rural properties decreased by 1.8% in August compared to the same month last year, while the number of urban property sales decreased by 12.6%. Within the latter, home sales registered an annual decrease of 14.4%.

19.1% of the homes transferred by sale in August were new build properties, while the other 80.9% were second-hand homes.

The number of transactions on new homes fell by 7.3% compared to August 2022 and that of used homes fell by 15.9%.

Autonomous Communities

In the month of August, the total number of transferred properties registered in the property registries per 100,000 inhabitants reached its highest values in Castilla y León (777), La Rioja (664) and Castilla–La Mancha (614).

Castilla y León (7.8%), Castilla–La Mancha (3.8%) and Principado de Asturias (2.8%) registered the highest annual variation rates.

The Balearic Islands (–28.2%), Comunidad de Madrid (–14.1%) and Andalusia (–13.8%) presented the lowest annual rates.

Looking at registered home sales, the communities with the highest number of transmissions per 100,000 inhabitants were Comunitat Valenciana (192), Andalucía and Cantabria (both 154).

The only autonomous communities in which the number of home sales increased in August are Comunidad Foral de Navarra (8.7%) and Principado de Asturias (3.7%).

The Balearic Islands (–37.7%), the Canary Islands (–25.6%) and the Community of Madrid (–22.9%) registered the greatest falls in the number of home sales.