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The decline in prices for Spanish real estate

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The average cost of real estate in Spain for period from January to May decreased by 5.1% and amounted to 1 261 euros per square meter. This is the lowest figure for the year. Compared to May of the previous year, the drop is 1.6%. This is according to report by the General Council of notaries.

Home sales stabilized in may after two months of growth. The number of deals was 38 845, which is 11.4% more than last year, but lower compared to March and April. 181 056 transactions of the year closed in 5 months; it is 16.1% more than in the same period from January to May 2015.

Resale is the engine of sales. This segment was made 26 889 operations, it is 16.8% more. Purchases of private homes grew by 9.2% – up to 7 885 transactions. While sales of new properties fell by 22.6% to 2495.

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