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alfathoughts: The house sales fall 24.7% in the first quarter and the price suffers a setting of 16%

Saturday, September 14, 2013

The house sales fall 24.7% in the first quarter and the price suffers a setting of 16%

The house sales recorded a fall of 24.7% in the first quarter , while average price per square foot suffered an adjustment of 16% , according to the General Council of Notaries .

For floors , reducing the number of operations was 25.1 % yoy , down from 17.3 % in the price per square meter.

According to notaries, these adjustments take place after a final quarter of 2012 marked by the rise of trades , which resulted from the change in tax treatment of housing , which was a temporary advancement in the purchase decision .

Specifically, the number of sales in March stood at 21,012 operations , representing a drop of 31.1 % internual , while the price per square meter recorded a drop of 10.2 % to 1.196 euros.

In the case of flats , the number of transactions fell 32.3% , with a price of 1,322 euros per square meter , 10.5% lower than a year earlier.

Meanwhile, the number of mortgage loans fell 27 % in the first three months of the year compared to the same period last year .

Furthermore, in the case of mortgage loans for the purchase of a property , the setting was 35.1% in the first three months of the year.

This fall , as notaries , registers slight increase year after the fourth quarter of 2012 (+5.5 % ) , the result of the surge in real estate purchases in the latter part of last year.

With March data , the set of mortgage loans registered a 35.1% yoy fall , fit to be moderated to 25.8 % if the rate of change is made on the seasonally adjusted series . The average amount of such loans in March stood at 108,615 euros , representing a drop of 19.8 %.

Finally, the formation of new companies registered a growth of 4 % in the first quarter , while the average capital of such companies fell by 10.4 % yoy. In March there was a slight drop in the formation of new companies (-5.8 % yoy ) and a further reduction in their average equity of 6.3 % year on year to 17,841 euros.

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