Friday, October 30, 2020
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House Purchases Fall by 47% in June to Reach Historical Lows

The sale of residential assets fell by 31% in quarterly terms and by 47% in interannual terms; whilst the number of operations carried out by foreigners dropped by 60%, according to Mitma.

The State of Emergency notably affected house sales in Spain. Between April and June, a total of 78,972 operations were registered, down by 47.2% compared to the same period a year earlier, according to data published by the Ministry of Transport, Mobility and the Urban Agenda.

During the first quarter of the year, 116,070 transactions were closed, and so there was a 31% decrease in quarterly terms in Q2. However, the decline was even greater in the case of foreign buyers, whose activity fell by around 60%. Non-resident foreigners signed around 9,300 operations during the second quarter. The Community of Valencia, Andalucía and Cataluña were the preferred regions for these buyers.

Read the full article in Spanish.

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