Home sales fall by 40% in the Canary Islands in the last month

Home sales fall by 40% in the Canary Islands in the last month

In September, the Canary Islands registered the sale and purchase of 1,590 homes, 40.1% less than a year beforeaccording to data published by the National Institute of Statistics (INE).

Trading has been reduced in all communities, but The Canary Islands led the decliners with a collapse of more than 40%. Extremadura is in second place with 32.2% and Aragón in third, housing the figure of 31.1%.

Catalonia (-28.8%) also appeared above the average; Balearic Islands (-27.2%); Andalusia (-26.6%); Basque Country (-25.6%) and Madrid (-23.8%).

Buying and selling in the Canary Islands

In September, a total of 2,611 operations about housing. In addition to the 1,590 purchases and sales, 466 were inheritances, 65 donations and eight exchanges.

In total, during September they were broadcast in the Canary Islands 4,354 urban properties through 2,615 sales, 738 inheritances, 113 donations, 21 exchanges and 867 other types of operations.

Likewise, there were carried out 712 transmissions about rural propertiesamong which 219 inheritances, 283 sales, 31 donations, zero exchanges and 179 other types of operations were registered.

It sinks throughout the country

In Spain, home buying and selling worsened its decline in September as it sank 23.7% in interannual rateits biggest decline since June 2020, and chained eight months in negativein a context marked by successive increases in interest rates and the consequent increase in the cost of financing.

Specifically, 44,086 home sales were registered, the lowest number of operations since Apriland the month of September with fewer operations for three years, according to data released this Friday by the National Institute of Statistics (INE).

In addition to this year-on-year drop, if compared to the previous month, August, Home sales decreased by 10.5%which places the accumulated decrease so far this year at 8.5%.

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