{"id":3273,"date":"2020-10-16T12:51:51","date_gmt":"2020-10-16T10:51:51","guid":{"rendered":"https:\/\/www.marbellaforsale.com\/blog\/?p=3273"},"modified":"2020-10-16T12:51:51","modified_gmt":"2020-10-16T10:51:51","slug":"home-sales-down-12-in-august","status":"publish","type":"post","link":"https:\/\/www.marbellaforsale.com\/blog\/home-sales-down-12-in-august\/","title":{"rendered":"Home Sales Down 12% in August"},"content":{"rendered":"
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New Home sales increased 6.4% in August<\/p><\/div>\n

In August, the number of home sales in Spain fell by 12.1% when compared to August 2019<\/strong>. Considering what the country has been through in recent months this is not a big fall and is far smaller than many expected. This also shows that the property market is resilient and is recovering well from the national lockdown.<\/p>\n

Total property sales in August reached 68,220, an annual decrease of just 7.8%. 85.1% of the sales registered in August correspond to urban properties and 14.9% to rustic properties. In the case of urban property sales, 54.1% were sales of homes (31,394).<\/p>\n

The number of purchases of rustic properties increased 5.0% in the annual rate in August, while that of urban properties decreased 9.7%, according to data from the INE<\/a>.<\/p>\n

21.6% of the homes sold in Spain in August were new-build<\/strong> properties and 78.4% were second-hand properties. The number of sales of new homes increased by 6.4% compared to August 2019, while that of used homes decreased by 16.1%. This is good news for developers who had seen a drop in sales of new property before the lockdown.<\/p>\n

Results by Autonomous Communities<\/h3>\n

In August, the total number of sold properties registered in the property registers per 100,000 inhabitants reached its highest values in Castilla y Le\u00f3n (597), La Rioja (596) and Arag\u00f3n (502).<\/p>\n

Extremadura (15.7%), Asturias (7.8%) and Castilla y Le\u00f3n (6.9%) registered the highest positive annual variation rates.<\/p>\n

On the other hand, Murcia (\u201323.7%), Catalonia (\u201322.8%) and La Rioja (\u201317.8%) presented the biggest negative interannual variations.<\/p>\n

In terms of registered home sales, the communities with the highest number of sales per 100,000 inhabitants are Cantabria, Valencia and La Rioja (all with 107).<\/p>\n

The communities that presented the highest annual increases in the number of home sales in August were Extremadura (49.2%), La Rioja (20.5%) and Arag\u00f3n (17.9%).<\/p>\n

Valencia (\u201323.5%), Catalonia (\u201323.0%) and Madrid (\u201318.3%) registered the greatest decreases.<\/p>\n

Home sales in Andalucia<\/a> reached 6,228 in August. This decrease is slightly higher than the national average at 13%, year-on-year.<\/p>\n

Mortgages<\/h3>\n

The number of new mortgage loans taken in August was 22,536<\/strong>, representing an increase of 2.9% year-on-year. The average amount of these loans was \u20ac147,131, thus reflecting a fall of 13.1% year-on-year, according to the General Council of Notaries<\/a>.<\/p>\n

New mortgages taken for the acquisition of a property increased by 5.2% year-on-year in August (18,572 loans). Among these, there was an increase in loans for the acquisition of a home<\/strong> (6.5%) and a decrease in those for the acquisition of other properties (-12.5%).<\/p>\n

The average amount of the new loans reached \u20ac128,739 (-9.4% year-on-year). In the case of home loans, the average capital borrowed was \u20ac128,512, showing a decrease of 3.4% year-on-year. For all other property types the average loan reached \u20ac132,501 (-51.4% year-on-year).<\/p>\n

Loans for construction showed a 3.4% year-on-year increase in August, reaching 460 operations. The average amount of those loans was \u20ac492,611, showing year-on-year growth of 9.4%. The average amount of loans for the construction of a house increased by 26.5% to \u20ac440,734 (399 operations).<\/p>\n

The percentage of home purchases financed by a mortgage loan stood at 52.9%. In this type of purchase with financing, the amount of the loan was on average 74.8% of the property value.<\/p>\n

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