Home sales in Spain plummeted by almost a fifth year-on-year in July, report shows

The number of home sales in July in Spain fell by 18.4% compared to the same month in 2022, data collected from the country's notaries has shown.

The number of mortgages taken out to buy property also fell sharply by 25.7% in the same month. And the average price per square metre of property sold across the country fell by 4.6% in July compared to the same month a year ago.

Prices of flats sold fell by 3% and houses by 7%. The average cost per square metre of property, recorded in July, was 1,617 euros per square metre.

Every region saw a drop in the number of home sales in July, with Andalucía among those falling the most, at 21.5%. In terms of the drop in prices per square metre, despite the overall fall, six regions did see an increase, topped by Balearics at 18.2%. Andalucía square-metre prices dropped 0.6%.