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Spain Home Sales Set Record for July as Mortgages Jump on Sub‑3% Rates

Sub‑3% fixed‑rate loans are propelling demand, drawing new agencies into active regions such as Galicia.

Archivo - Escaparate de una inmobiliaria
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Overview

  • Home transactions reached 64,730 in July, up roughly 14% year over year and the highest for any July since the series began in 2007, according to INE.
  • Second‑hand homes led activity with 51,090 sales (+12% y/y) while new‑builds grew faster to 13,640 (+22.3%), the strongest July for new housing since 2010.
  • Mortgage signings rose to 45,067 (+25% y/y) with an average loan of €163,307 and a 2.94% opening rate, and about 70% of new home loans were fixed‑rate.
  • Growth was broad across regions, led by Extremadura (+28%), Aragón (+23.8%) and Castilla‑La Mancha (+21.1%), with declines only in Navarra (‑15.7%) and Cantabria (‑5.9%).
  • Local market responses are intensifying, as Galicia logged 313 newly created real‑estate firms through August (+12% year to date) and 22,500 rental deposit registrations.