Following two consecutive months of increases, property sales in Spain in March 2024 reached 56,559 a drop of 13.7% year-on-year, figures from Spain’s Notaries show. However, it should be noted that sales in March were 𝐮𝐩 against February by 3,417 properties, so for those of us wanting to put a positive spin on this, there´s the angle!
𝐌𝐚𝐫𝐜𝐡 𝟐𝟎𝟐𝟒 𝐯𝐬 𝐌𝐚𝐫𝐜𝐡 𝟐𝟎𝟐𝟑
Andalucía -20.4%
Comunidad Valenciana -9.7%
Balearics -11.6%
Murcia -6.7%
Canaries -21.4%
Cataluña -16.6%
In terms of actual sales volumes, these were the top 3 regions:
Andalucia x10,977
Comunidad Valenciana x9,455
Cataluña x8,269
The average price per square meter rose 4.2%, to €1,683 /m² with large increases in the Balearic Islands (23.9%), Canary Islands (18.0%), and Cantabria (16.1%).
In March Mortgage loans for home purchases decreased 4.5%, with significant drops in Navarra (-25.2%) and the Balearic Islands (-19.1%). The percentage of home purchases financed by a mortgage was 46.8%, with the mortgage amount averaging 71.7% of the purchase price.
𝐀𝐧𝐝𝐚𝐥𝐮𝐜𝐢𝐚
Despite a significant year-on-year fall in transaction volume in Andalucia of -20.4%, in absolute terms, it is the Spanish region where the most properties were sold in March. Contrasting with this drop in sales volumes, property prices rose 7.1% compared to March last year.
𝐌𝐲 𝐭𝐚𝐤𝐞 
So sales volume drops year-on-year but increases month on month, and prices continue to rise… this points to a bigger jump from Feb to March last year than anything untoward this year. At most, we didn’t get the massive uplift we sometimes see around Easter time.
Full report here
