Real estate market
Real estate market latest publications
The first known data from the real estate sector at the beginning of the confinement corroborate that Covid 19 has affected the sector. In March, home sales fell by 41% m/m, the highest since 2007. House prices fell for the first time in 21 quarters (-0.4% m/m) and residence permits decreased by 36% m/m.
Last December home sales contracted again and 2019 was the first year of falling sales since the beginning of the recovery in 2014. In response, house prices grew less sharply in the last quarter of the year. Meanwhile, visa signatures fell in November
The ranking in the growth of 2019 remains unchanged: Madrid, Murcia, Castilla-La Mancha and Navarra would have led the progress of the activity the previous year. Forward, the centre would continue to lead the dynamism.
The real estate market put an end to a turbulent 3Q19, characterized by high volatility due to the effects of the implementation of the Real Estate Credit Law. Sales lost traction in September, after the upturn in August, and price growth was similar to that of the previous quarter
August data showed a recovery in home sales and mortgage credit. Thus, after a period of regulatory uncertainty, the sector could be gaining traction. In addition, after the correction last May, construction activity recovered levels of previous months
Growth revised downwards due to weak European consumption and demand, with more impact on northern regions and tourist destinations.
The loss of traction in the real estate market was somewhat more intense in the early summer months. The contraction of sales in the last months has been reflected in a moderation of the growth of housing price in 2Q19. On the other hand, construction activity is beginning to show signs of deceleration
Home sales lost traction in 1H19 despite positive demand determinants. At the same time, construction activity maintained its growth trend. Housing price showed an upward trend, especially for new housing. The market shows a high regional heterogeneity