Less than 1,500 operations were performed. The real estate sales sector has now been in negative territory for eight months in a context marked by the rise in rates and the increase in the cost of loans.
The purchase and sale of homes plummeted 25.6% in September compared to the same month of the previous year, with only 1476 operationswith which they chained themselves eight consecutive months in negative in a context that continues to be marked by high interest rates and the rise in financing costs.
The year-on-year decline in home sales in the Basque Country began this year in February (-1.5%) and was accentuated in March (-9.1%) and April (-23.4%). The decrease was somewhat smaller in May (-18.5%), it was reduced in June (-13.5%) and in July (-2.5%), but it rebounded in August to 15.6%.
According to the statistics published this Friday by the National Statistics Institute (INE), the decrease in the month of September was higher than the national average (-23.7%) and Euskadi remains, as in August, among the seven communities with the greatest falls in home sales.
In the property registries, 5,745 properties of all types were transmitted, 11.5% less than in the same month of 2022, of which 643 were rural properties, 2,689 homes, 92 plots and 2,321 other types of urban properties such as garages , offices and storage rooms.
Of the homes transferred, 1,436 were through purchase and sale, 759 through inheritance, 44 through donations, 2 through exchanges and 408 of another type.
As for the homes sold, the majority were used (1,258) and vacant (1,362) compared to the 114 protected.
Source: Eitb
I’m Tifany Hawkins, a professional journalist with years of experience in news reporting. I currently work for a prominent news website and write articles for 24NewsReporters as an author. My primary focus is on economy-related stories, though I am also experienced in several other areas of journalism.