Housing sales in Andalusia concluded June with 12,111 transactions, marking a 1.7% increase compared to the same month last year. This uptick contrasts with the loss of dynamism in the national real estate market, which saw a 1.57% rise to 59,288 transactions. However, globally, the first half of the year has seen a 2.58% decrease in home sales in Spain, with 347,464 units sold.
In Andalusia, the trend has been more stable, with a very slight increase of 0.14% in the first semester, totaling 71,151 units sold. This stability is attributed to several factors. Firstly, inland provinces such as Córdoba (+7.6%), Jaén (+6.63%), and Seville (+5.29%) continue to show growing dynamism. Conversely, coastal provinces like Almería (-7.7%), Málaga (-4.5%), and Cádiz (-2.3%) have registered declines. Granada is the only coastal exception with a 6.6% increase.
Another key factor is the significant rise in protected housing (VPO), which grew by 10.31% in the semester to 6,216 operations, with Granada, Almería, and Huelva standing out. Despite this growth, VPO still represents only 8.75% of total transactions. On the other hand, a slowdown in the purchase of used homes is observed (-1.3%), while new home transactions increased by 4%, now accounting for 28% of the total.
Real estate portals such as Idealista and Fotocasa have indicated that June's rise offers a 'respite' after five consecutive months of declines nationally. Francisco Iñareta, spokesperson for Idealista, suggests this figure might be circumstantial and needs confirmation in the coming months, pointing to an adjusting market with stabilizing prices in major markets. María Matos, from Fotocasa, highlights the strength of the Andalusian market but anticipates that the ECB's interest rate hikes will increase financing costs and affect demand.
Matos also warns about the uncertainty of the international context, with geopolitical tensions potentially leading to new inflationary surges and maintaining a less favorable financial environment, possibly with further rate hikes in the second half of the year.
