The sale of housing stood at 31,973 transactions in July, which represents a year-on-year contraction of 9.8%, which softens to 7.5% in the seasonally corrected series, according to the General Council of Notaries.
Despite this fall, the number of transactions recorded in July is the best date for 2014. The decrease in the annual rate could be an isolated figure in the general trend of stabilization of the real estate market since the average of the last three months indicates still at 2.5% increase in operations compared to the same period of the previous year.
By type of housing, the sale of flats showed a fall of 11.6%, similar to the decrease experienced by free-price flats (11.4%). The lowest number of transactions is due to the sharp drop in sales of new apartments (38.4%). On the other hand, the sale of second-hand apartments contracted 4.1% year-on-year, while the sale of single-family homes showed a year-on-year decrease of 1.9%.
In terms of average price, the square meter of homes purchased in July was 1,171 dollars, representing a 10% year-on-year decrease. In the case of flats, this reduction was 9.9%, slightly more than the 9.6% year-on-year of the free price flats (1,285 dollars). Among them, the price of second-hand apartments was 1,264 dollars, which represents a fall of 10.7% year-on-year, and that of new apartments of 1,538 dollars (2.2% less than the same month of the previous year). The average price per square meter of single-family homes stood at 964 dollars, thus experiencing a fall of 7.6% year-on-year.
Finally, in July the purchase and sale of other properties stood at 8,343 operations (11.9% less), of which 41.6% corresponded to land or lots. The average price per square meter of these transactions has reached 175 dollars, 4.8% more than the previous year.
Thus, in July, there was a contraction in terms of interannual rates of housing sales, as well as their price. In any case, the progressive contraction of the increases in the interannual rate was expected as the base effect fades due to the end of the tax relief for habitual housing.
Despite the contraction of the home buying and selling market, the evolution of the mortgage market for the acquisition of housing showed the improvement observed in the real estate sector in the previous months.
The number of new mortgage loans made in July was 23,302, representing a year-on-year fall of 3.9%. This adjustment translates into a 3.2% year-on-year contraction in the corrected seasonality series. Despite this expansion in the lending of loans, the average amount of such loans was $ 138,566, reflecting an increase of 1.9% year-on-year.
Mortgage loans for mortgage loans 16.4% year-on-year in July (13,127 credits), due to increase in mortgage loans (17.4% more at the interannual rate), while the rest of the properties there was a rebound of 5.8%. On the other hand, the average amount of loans for acquisition reached 115,307 dollars (a fall of 7.0% year-on-year). In the case of housing, the average capital was 108,328 dollars (a decrease of 7.8% year-on-year) and for the rest of the real estate the credit averaged an amount of 189,816 dollars (1.8% less year-on-year) .
Mortgage loans for construction in July
It showed an annual growth of 24.2% to 370 new loans. The average amount was 234,611 dollars, thus collecting a year-on-year contraction of 15.4%, due to the sharp reduction in the average capital of loans for the construction of other types of buildings other than housing (19.2% less).
Finally, the percentage of home purchases financed by a mortgage loan stood at 37.7%. In addition, in this type of purchases with financing, the amount of the loan was an average of 75.5%.