The Spanish Registrars Association published the information note, which includes the annual evolution of purchases and mortgages in the property registry during the months of January to November of 2020.
The changes of the Spanish real estate market – the real estate registry statistics in comparison with the same period of the previous year shows the following results.
Registered purchases and sales
In the section of registered purchases and sales compared to the same period of 2019, from the beginning of the pandemic in March, falls are observed, with annual rates of -20%. This gradual decline continued until May, with rates above -50%. Gradual recovery started in June, reaching positive values until September. After a clear relapse in October, November confirms the trend of recovery, although moderate, with an increase in total sales of 6.2% and 3.5% for those related to housing. It was the first month since the beginning of the pandemic in which both figures showed a positive evolution over the same month of 2019.
Mortgage
The mortgages constituted showed from the beginning of the pandemic greater resistance to the crisis. In comparison with the same month of 2019, they went from clearly growing in February around 20% annually, similarly for total mortgages and those referred to housing. The decline in May reached of about – 25%. This is significantly less than the drop in registered purchases and sales. In June, the downward curve was reversed (-9.1% in total mortgages and -11.2% in housing). Although there have subsequently been ups and downs in rates of variation. Especially in July and September, due to the practical effects of the implementation of law 5/2019.
The situation tends to stabilize in the following months. There were moderate decreases in October, to improve slightly in November. Finally it showed a smaller decrease, 4.5%, in total mortgages compared to the same month of 2019. Mortgages on housing increased slightly, 1.5%.