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Property Market Shows Positive Signs in June

Buyers are coming back to the property market
Buyers are coming back to the property market

Buyers are coming back to the property market

As the country starts trying to get back to some sense or normality following lockdown, the property market recovered slightly. In June, there were 112,383 property transfers registered. Although this represents a 37.1% increase when compared to May, it is still 33% lower than in June 2019.

When looking only at the sale of homes, the monthly variation is +21.6%, while compared to the same month last year the variation is -34.3%.

86% of property sales recorded in June correspond to urban properties, with the remaining 14% being rustic. In the case of urban property, 58.6% of those sales were for housing, according to the latest data from the INE.

The number of rustic properties sold in June fell by 30.1% year-on-year, while urban property sales fell by 34.3%. Of course, with the months of lockdown these figures are not at all surprising and the monthly increase is encouraging for a market that pretty much came to a standstill for 5 months.

Sales in Autonomous Communities

In June, the total number of transferred properties per 100,000 inhabitants reached its highest values in Castilla y León (519), La Rioja (455) and Cantabria (402).

The Basque Country (–8.7%), Galicia (–11.1%) and Cantabria (–12.1%) registered the smallest falls on the annual variation rate.

Meanwhile, the largest falls were seen in Aragón (–51.8%), Madrid (–42.7%) and the Canary Islands (–42.0%).

In terms of registered home sales, the communities with the highest number of transfers per 100,000 inhabitants was Región de Murcia (103), while Cantabria, Valencia and La Rioja all reached 87.

All the communities presented negative annual rates in the number of home sales in June. The smallest decreases occurred in La Rioja (–8.9%), the Basque Country (–12.4%) and Extremadura (–14.2%).

For their part, the Canary Islands (–41.8%), the Valencian Community (–43.9%) and Galicia (–44.8%) recorded the greatest decreases.

Andalucía recorded 5,141 home sales in June, a year-on-year fall of -37.8%. Of those properties sold in Andalucía in June, 4,163 were second-hand properties and 978 were new.