The sale of Spanish homes in March registered its first decline in the last two years, according to notaries. The 50,299 transactions show a 2.7% year-on-year decrease. Prices remained stable in the third month of 2018 with a slight increase of 0.4% to 1,353 euro/m2, which is 126 euro/sq ft. Meanwhile, mortgages increased by 2.3% with more than 23,000 new loans being issued.
Last March, prices rose and new loans were granted but for the first time in 28 months, sales and purchases of properties fell year on year. In the third month of the year, notaries registered 50,299 transactions, 2.7% less than in March 2017, according to data from the Spanish General Council of the Notariat (Consejo General del Notariado).
At the same time, the average price per m2 of the homes sold was 1,353 euro or 126 euro per square foot, which represents a slight increase of 0.4%.
Mortgage loans for house purchases in Spain also increased by 2.3% year-on-year to 23,147 new mortgages. What’s more, the average amount increased by 1.7% compared to the same period in 2017, up to 134,623 euro.
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