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Home Sales Increase Following End of Lockdown

Sales of second-hand property up 18.8%
Sales of second-hand property up 18.8%

Sales of second-hand property up 18.8%

In July, there was 144,522 property transfers registered in the property registers, 21.5% less than in the same month of 2019. However, compared to June 2020, the number of transfers increased by 28.6% showing that the lifting of some of the Covid restrictions is bringing life back to the property market. The total number of property sales in July was 25.3% less than the previous year with 71,139 sales recorded.

83.6% of the sales registered in July correspond to urban properties and 16.4% to rustic properties. In the case of urban property sales, 54.9% were home sales, according to figures from the INE.

The number of sales of rustic properties decreased 1.1% in the annual rate in July and that of urban properties decreased 28.7%. Within the latter, sales of homes registered an annual decrease of 32.4%.

That actual number of home sales in July was 32,654. Of these, 6,767 were sales of new properties, an increase of 24.7% when compared to June. Sales of second-hand property reached 25,887, a monthly increase of 18.8%.

Results by Autonomous Communities

In the month of July, the total number of transferred properties registered in the property registers per 100,000 inhabitants reached its highest values in La Rioja (713), Castilla y León (634) and Castilla – La Mancha (599).

The only community with a positive annual variation rate is the Basque Country (2.4%). Castilla y León (–4.0%) and the Principality of Asturias (–8.7%) registered the smallest decreases.

The Canary Islands (–41.1%), the Community of Madrid (–34.6%) and Catalonia (–28.3%) presented the greatest annual falls in property sales.

Andalucia saw 6,620 home sales in July, an annual variation of -30.5%.

In terms of registered home sales, the communities with the highest number of transfers per 100,000 inhabitants are Valencia (118), the Basque Country (116) and La Rioja (112).

The only community in which the number of house sales increased in July, year-on-year, was the Basque Country (14.7%). The smallest decreases occurred in the Principality of Asturias (–15.1%) and Extremadura (–16.9%).

The Canary Islands (–54.8%), the Balearic Islands (–42.9%) and the Community of Madrid (–41.1%) registered the greatest decreases in house sales in July.