The all-time record for property sales is over 50,000 and this is the highest it has been since the boom in 2008. (EFE)

In July 2021, 50,258 home sales were closed. This is the highest monthly figure since the real estate bubble, as since April 2008 the barrier of 50,000 monthly sales has not been exceeded, according to data from the National Statistics Institute (INE).

The more than 50,000 homes sold in July represent an increase of 53.5% compared to the same month in 2020. With this advance, the sale and purchase of homes have now reached five consecutive months of positive rates after the rises of 32.4% and 65.9% recorded in March and April, respectively, 107.6% in May and 73.5% in June.

The year-on-year upturn in house sales and purchases in July was the result of the increase in new home transactions, which rose by 40.2% to 9,510 transactions, as well as the 56.9% increase in the sale and purchase of used flats, which totaled 40,748 transactions. In monthly terms (July over June), house sales and purchases increased by 4.3%, its lowest rise in July since 2018.

In the first seven months of the year, the sale and purchase of homes accumulated an increase of 34.5%, with rises of 43.7% in transactions on new homes and 32.2% in the case of second-hand homes.

New construction continues to arise great interest.

Another very relevant figure is to be found in new housing transactions. For yet another month they have increased. Specifically, in July 2021, 9,510 new home sales and purchases were carried out, representing a year-on-year increase of 40.2% compared to 2020. This is also a cause for breaking the record for property sales.

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