Sales of homes in Spain increase by 7.1% until June
According the Consejo General del Notariado (General Council of Notaries), the sales of residential homes in Spain keeps its good progress along 2016. Until June it has been registered a yearly increase of 7.1% of selling operations. In absolute figures this represents 42,330 homes sold.
By type of housing, the sale of flats showed a strong year-on-year increase of 4.8%. Thus, flats still being the most popular kind of property for buyers in Spain. Specifically, the resale flat sales have increased 11.5% year-on-year. In contrast, reduction in sales of new built flats still significant (-33.4% year-on-year).
In relation with average price, the square meter of homes bought in June was 1,290 euros (-1.9% year-on-year). This contradictory fact between an increase in demand and reduction in prices shows that the balance of the market must wait as the offer remains high, especially in the case of new built homes.
Another interesting data shown by the Consejo General del Notariado is related with the approved loans, which is in concordance with the precious mentioned figures. Mortgage loans for acquisition of homes in Spain increased yearly by 13.3% in June. The average amount increased slightly by 0.4% year-on-year, being € 128,480 the average absolute amount.