Slowing down Mark Stucklin

Spanish home sales in May 2023 show cooldown continues

THE Spanish property market continues to cool down after a post-pandemic boom in 2022 but there is no sign yet of a crash in sales, as shown by the latest housing market figures from the Spanish notaries’ association. There were 58,880 home sales witnessed by Spanish notaries - actually more than recorded by the National In- www.spanishpropertyinsight.com stitute of Statistics - in May, down 8% on last year, and the seventh consecutive month of sales dropping. However, if you compare sales (see graph) to previous years looking just at the month of May there is no sign of a crash, just a return to normal business after a boom that followed in the wake of the Covid-19 disaster. Sales this May were lower than 2021 and 2022, but higher than the normal years of 2018 and 2019. Looking at the 12-month rolling sales total, which smooths out the ups and downs of each month and gives a better picture of the underlying trend, you can clearly see the end of the boom and downward trend that looks like it will be with us for a while. All regions of interest to for- at just €10. Contributions have so far arrived from as far away as Canada.

Each donor, depending on the amount, will receive a gift that can range from a thank you card to key chains, coasters or even a guided tour of the village. Other options include sponsoring pews, the choir, or the weather vane from €150. Work will begin once €40,000 is reached, as it is now backed up by a promised €10,000 grant from the Burgos Provincial Council. eign investors have been following a similar downward curve with modest variations, Sales fell the most in the Balearcis (-19%) followed by Madrid (-17%), Catalunya, Andalucia and the Canaries (-12%), and the Valencian region (-10%). Sales in Murcia bucked the trend with a 1% increase.

The national average house price increased by 1% in May, according to the notaries, suggesting the boom in prices has also come to an end . By region, prices increase the most in the Balearics (+17%), followed by Murcia (+9%), Andalucia (+7%), Valencia (+5%), Catalunya (+4%), and Madrid (+2%).