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Property Registrars Observe the First Signs of a Slow Down in the Property Sale & Mortgage Markets

House sales are growing at their slowest rate for several months and mortgage signings have decreased in annual terms for the first time since February 2021.

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The numbers published by the College of Registrars are not based on statistics, its own portfolio or commercial estimates. Its figures are those that are signed and closed before a public notary each month. And in the month of July 2022, those figures, in terms of sales and the constitution of mortgages, followed the same pattern: the euphoric and historical growth that characterised the start of the year has started to slow down.

Uncontrolled inflation, the fears of recession, war in Ukraine, all served to cast a shadow over the key economic indicators… and, in the mortgage market, the ten-year high Euribor rate is only serving to erect a wall against the entry of new buyers.

Read the full article in Spanish.

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