Buying and selling housing accumulates half a year down in Galicia

The real estate market continues slowdown. Especially in Galicia, where the sale of apartments in May fell again by almost 11% compared to the same month of the previous year. That a decrease of 10.7 percentwith total 1,644 transactions – according to the data published by the State Institute of Statistics (INE) this Friday – four points higher than the national average and represents half a year of continuous decline operation.

He the last positive year-on-year data in the community happened in November 2022 –in negative December and throughout 2023–. The country has been chained to four months of negative rates.

The May drop in Galicia is four points higher than the 6.4% drop in the Spanish average, which represents the sixth largest drop among communities. The biggest drop was recorded by La Rioja (-37%). On the other hand, Cantabria is leading the increase (+21.1%).

The rate of house sales in the Galician community is 75 per 100,000 inhabitants, which is why it remains the lowest in the country.

Of the total number for May, there were 1,598 vacant homes and 46 protected homes for sale. In addition, there were 1,304 used and 340 new.

Climbing on the farms

On the other hand, the total transferred farms reached 9835 in the Galician community, 1% more than in the fifth month of 2022.. This contrasts with a 5.4% decline in the Spanish average.

Those 9,835 farms are divided into 6,379 urban — 3,426 homes, 279 solar and 2,674 other types — and 3,456 rustic.

3,426 homes were transferred through the aforementioned 1,644 purchases, 870 inheritances, 24 gifts, three exchanges and 885 other types.