In July, the Canary Islands recorded the largest annual increase in the number of home sales, with 2,366 transactions and a rise of 24.3%, which contrasted with the average increase at the national level, which was 8%.
The leadership of the Canary Islands was driven by the real estate market in the province of Las Palmas, where 1,261 transactions took place, which meant an increase of 27.5%, while in the province of Santa Cruz de Tenerife, with 1,105 transactions, an annual growth of 20.7% was reached, according to the National Institute of Statistics (INE).
However, the price per square meter in the province of Las Palmas was 1,992 euros on average this August, which represents a year-on-year growth of 3%, while in the province of Santa Cruz it stood at 2,034 euros, which is almost 8% more than in the same period last year, according to data from idealista.com.
After the Canary Islands, the largest increases were observed in the Balearic Islands (19.5%) and Cantabria (19.3%).
The sale of houses in Spain has chained seventeen months of increases, but growth is slowing down
The sale of homes in Spain increased by 8% in July, compared to the same month last year, with 53,720 transactions, due to the pull of sales of used homes, which grew by 10.4%, while those of new construction fell by 2.5%, after twenty consecutive months of increases.
According to data published this Friday by the National Institute of Statistics (INE), the sale of houses fell by 7.4% compared to June, although in the accumulated of the year it adds an increase of 20.8% (23.7% used and 9.1% new).
The sale of houses in Spain has chained seventeen months of increases, although that of July is the lowest of the period, which confirms the slowdown that was detected in June.
In addition, the 10.4% increase in the second-hand market is the lowest since February 2021.
For its part, the number of sales falls in Navarra (13.4%), Comunidad de Madrid (9%) and La Rioja (8.8%).
The INE statistics also reflect that seven out of ten sales that closed in July were between individuals (69.7%), which is 7.4% more than in the same month of 2021. EFE