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Property Sales Slow Again in September

New build property sales fell 19.7%

New build property sales fell by 19.7%

The total number of properties transferred in the property registers in Spain during the month of September was 153,247. This is 13.2% less than in the same month of 2022, according to data from the INE.

In the case of property sales, the number was 82,778. This represents a decrease of 20.1% when compared to the previous September.

87.2% of the sales registered in September correspond to urban properties while the other 12.8% were rural. In the case of urban sales, 61% were home sales.

The number of purchases of rural properties fell by 8.5% in September, compared to September 2022, and the number of urban property sales fell by 21.6%, on the same metric. Home sales registered a decline of 23.7%.

Of the home sales registered in September, 18.6% were for new build properties, and 81.4% for second-hand homes. The number of sales of new homes saw a fall of 19.7% compared to the previous year, and that of used homes fell by 24.5%.

Results by Autonomous Communities

In the month of September, the total number of transferred properties registered in the property registries per 100,000 inhabitants reached its highest values in Castilla y León (716), Castilla–La Mancha (577) and La Rioja (569).

All communities registered negative annual rates in the number of properties transferred. Castilla y León (–0.8%), Principality of Asturias (–3.9%) and Galicia (–5.9%) recorded the smallest decreases.

La Rioja (–23.7%), Region of Murcia (–21.9%) and Aragón (–21.1%) presented the lowest annual rates.

Looking at registered home sales, the communities with the highest number of transmissions per 100,000 inhabitants are the Valencian Community (180), Region of Murcia (145) and Castilla–La Mancha (131).

All communities present negative annual rates in the number of sales and purchases of homes in September. The smallest decreases occurred in Castilla–La Mancha (–7.7%), Castilla y León (–12.3%) and Principality of Asturias (–13.9%).

The Canary Islands (–40.1%), Extremadura (–32.2%) and Aragón (–31.1%) recorded the most significant declines. Home sales in Andalucia saw a negative variation of -26.6%.