Home purchases continue to grow and soar in June.

BarcelonaHome sales soared in June in Spain, and at an even faster rate in Catalonia, according to property transfer data published Tuesday by the National Statistics Institute (INE). 2024. Specifically, 9,358 home sales were closed, of which only 23.3% were new construction. This figure registered a slight decline of 0.3% in Catalonia and 1.7% in the country as a whole.

These data corroborate the growing demand in the housing market, one of the hot topics on the political agenda for both the Spanish government and the Generalitat (Catalan government), due to studies in many municipalities (especially some). that some cities, including the Catalan capital and Madrid, could have been suffering from a real estate bubble for some time now, caused by an increase in speculative purchases, the limited housing supply in urban centres, population growth, and the use of a substantial part of the potential housing stock by the tourism sector (hotels for decades).

Sales of protected housing are increasing

As usual, the majority of homes purchased were on the open market in both Catalonia and Spain, with only 5.9% of the total being subsidized housing transactions in the Principality, a figure lower than the 7.3% average in Spain. In fact, in Catalonia, the number of transactions involving subsidized apartments increased from 406 in June of last year to 556 last month, an increase of 36.9%, while open market transactions increased by 28.1%. In Spain, however, sales of subsidized housing grew faster than those of subsidized housing, with 18% and 16.3%, respectively.

Catalonia was the autonomous community with the second most transactions during June, surpassed only by Andalusia and followed by the Valencian Community and Madrid. Regarding the increase in sales, all territories of the State registered increases, led by Cantabria, Aragon, and Castile and León. At the other end of the spectrum, the Balearic Islands, Navarre, and Madrid saw their number of transactions increase by less than 4% compared to the previous year.