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April, the Month Hardest Hit by Covid: House Sales Fall by 71% and Mortgages by 57%

14,459 homes were bought and sold during April, representing a year-on-year drop of 71.3%, whilst the volume of mortgage loans signed decreased by 57.2%.

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The coronavirus pandemic in Spain and the decree of the State of Emergency to alleviate it made the month of April 2020 one of the worst in recent years in the real estate sector. According to the General Council of Notaries, house sales fell by 71.3% in April compared to the same month in 2019, whilst mortgage loans for home purchases fell by 57.2% to just 10,587 new loans.

Specifically, 14,459 homes were bought and sold. By type of home, the sale of flats fell by 71.7% year-on-year. Meanwhile, sales of free-price flats fell by 71.8%, due to both a decrease in the sales of new-build flats (-62.5%) and second-hand ones (-72.8%). Finally, sales of single-family homes fell by 69.6% year-on-year.

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