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House Purchases Drop by 53% in May and Impact New Build Homes

In May, as the lockdown measures began to ease, house sales and mortgage signings recorded year-on-year decreases despite rising prices, according to the notaries.

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The pandemic is continuing to have an impact on statistics in the real estate market. By type of home, the sale of flats recorded a year-on-year reduction of 53.8% in May, and sales of freely priced flats fell by 54.0%. Meanwhile, the signing of mortgage loans for the purchase of homes did not perform much better, falling by 43.7% to 15,325 operations compared with May 2019.

That decline in the sale of freely priced flats was due to a decrease in the sale of new homes (-33.0% YoY) and second-hand properties (-56.2% YoY). For their part, single-family homes experienced a reduction in sales of 51.6%.

Read the full article in Spanish.

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