ARCHIVED - Nearly 25 per cent less property sales in Murcia during July

At least the July figures are better than those for May and June!

It’s hardly surprising that property sales figures this summer are a little unreliable when attempting to define what the current state of play is regarding the property market, given the delays in completing transactions due to the coronavirus situation and the stagnation of the market during the lockdown period.

Given the time delays in processing transactions caused by the pandemic and the difficulties of viewing during lockdown, it’s not surprising at all that the stats relating to completed transactions during July produced by the National Statistics Institute will show a substantial drop in the number of transactions completed during July.

However, the figures are a lot better than those posted during the last 4 months which were totally distorted by the coronavirus crisis.

The July figures show that property transactions fell in the Region of Murcia by 24.7% in the month of July.

The number of property transfers registered in the property registers of the Region of Murcia (from public deeds) for the month of July 2020 is 4,807, which is 21.2% less than in the same month of 2019 , and transactions relating to residential dwellings totalled 1,236, which represented a fall of 24.7%, according to the Statistics on Transmissions of Property Rights (ETDP) figures for July produced by the National Institute of Statistics (INE).

In July, the total number of land and property transactions registered in the property registers for every 100,000 inhabitants was highest in La Rioja (713), Castilla y León (634) and Castilla – La Mancha (599).

The only community with a positive annual variation rate is the Basque Country (2.4%). Castilla y León (–4.0%) and Principado de Asturias (–8.7%) registered the smallest decreases. The Canary Islands (–41.1%), Comunidad de Madrid (–34.6%) and Catalonia (–28.3%) reported the largest falls.

Relating to residential property sales, the communities with the highest number of transfers per 100,000 inhabitants are the Valencia Region, the Comunitat Valenciana (118), País Vasco (116) and La Rioja (112).

The only community in which the number of house sales increased in July was the Basque Country (14.7%). The smallest decreases occurred in Principado de Asturias (–15.1%) and Extremadura (–16.9%).

The Canary Islands (–54.8%), Balearic islands (–42.9%) and Comunidad de Madrid (–41.1%) registered the greatest decreases.