Record sales of houses in July

 

The economic recovery has been clearly seen in the real estate sector for a while now. Sales have increased month by month and have now reached levels not shown since the end of the previous real estate boom, more specifically in April 2008.

 

In the seventh month of the year, a total of 50,258 operations were performed throughout the country, which is 2,000 more than the previous month. Apart from the number of transactions, however, there is nothing reminiscent of the situation that prevailed in April 2008. Spain had then experienced several years of economic growth and was fast approaching the moment when the bubble would burst. Now, on the contrary, the country is in the final phase of a crisis, provoked by external factors (the pandemic), which has caused demand to soar after being paralyzed for several months.

 

In July this year, 53.5 percent more homes were sold in Spain than in the same month last year. During the first seven months of the year, accumulated sales increased by 34.5 percent compared with the same period in 2020. If we compare with July 2019, the increase in July was 4 percent.

 

The majority of the transactions in July were made in Andalusia (10,598), followed by Catalonia (7,815), Madrid (7,278) and Valencia (7,226).

 

According to Susana Rodríguez, CEO of the consulting firm Savills Aguirre Newman and quoted in the newspaper El País, the statistics for July are a very positive figure showing continuity of the trend that began in 2013, with the exception of the pandemic, and position the real estate sector as one of the driving forces in the Spanish economy.