The housing market loses momentum after several months of strong activity. Home sales fell by 5.7% between April and June compared to the previous quarter, down to 167,934 transactions, thus marking two consecutive quarters of decline and recording the lowest volume since the third quarter of 2024. Compared to the same quarter last year, the decrease is 2.3%. However, the slowdown in transactions has not yet translated into a moderation of prices, which continue to reach historic highs, nor does it curb the interest of foreign buyers.
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The latest data published by the College of Registrars shows that the decline was especially intense in new-build housing. Sales of these properties fell by 11.5% in the quarter, down to 34,919 transactions, while second-hand sales, which still concentrate the majority of the market, dropped by 4%, down to 133,015. Compared to the same period last year, the decline in activity was more moderate, at 2.3%.
The decrease in transactions spread across practically the entire country. Fifteen autonomous communities and 34 provinces recorded fewer sales than in the first quarter of the year, in a context where difficulties in accessing housing continue due to the shortage of supply.
Despite this, prices continue to climb. The average price per square meter of housing reached 2,487 euros, 2.4% more than three months earlier and 9.2% above the level recorded a year ago, the highest level in the historical series.
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Used housing again led the increases, with an average price of 2,448 euros per square meter, 3.5% more than in the previous quarter. In contrast, new housing registered a slight decrease of 0.7%, down to 2,636 euros per square meter. Madrid, the Balearic Islands, and the Basque Country remained the communities with the highest prices, while San Sebastián, Madrid, and Barcelona topped the ranking of capitals.
Another trend that is consolidating is the growing weight of foreign buyers. Between April and June, they made almost 16% of all home purchases in Spain, the highest percentage since records began, with more than 26,800 transactions. The British were again the nationality with the greatest presence, closely followed by the Dutch and Germans. In the Balearic Islands and the Valencian Community, practically one in three homes sold was purchased by an international buyer.
The mortgage market also showed signs of moderation. In the second quarter, 129,240 mortgages on housing were established, 3.3% less than between January and March. Even so, the average loan amount continued to increase, reaching 176,453 euros.
