Home sales in Spain drop 11.2% in first quarter of 2026

Home purchase transactions in Spain fell 11.2% year-on-year to 163,322 in the first quarter of 2026, according to data from the Ministry of Housing and Urban Agenda.

The Ministry of Housing and Urban Agenda reported that transactions reached the lowest figure for this period since 2024. Free housing accounted for 159,317 operations, down 11% from the previous year, while protected housing recorded 4,005, 20.4% lower.

Compared with the previous quarter, the drop was 18.4%. Sales of used homes fell 10.9% year-on-year and new-build homes declined 12.2%.

In 2025, 752,098 transactions were completed, the highest figure since 2007. First-quarter 2026 data stand 35% below the historic peak recorded in 2006.

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Illustration of Mexico's economy showing GDP contraction with charts and Mexico City skyline
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Mexico economy contracts 0.6 percent in first quarter of 2026

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Mexico's gross domestic product fell 0.6 percent in the first quarter compared with the prior period, according to final Inegi data released Friday. The contraction was smaller than expected and revives debate over possible further rate cuts by Banxico.

Housing prices rose 12.9% year-on-year in the first quarter of 2026, according to the National Statistics Institute, marking 11 straight years of continuous increases.

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New home sales in the Metropolitan Region rose 19% in the first quarter of 2026, reaching 5,809 units. This growth, the highest since 2021, is attributed to the mortgage rate subsidy for homes under 4,000 UF. The subsidized segment saw a 27% increase.

Wholesaler sales dropped 1.1% month-over-month in April while supermarket sales rose 0.8%, INDEC reported. Both sectors posted year-over-year declines.

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Santiago Centro has 99 building permits for 20,449 homes, yet 10,900 units across 56 projects have not begun construction.

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