New Real Estate Sales Lowest on Record, Just 60 Properties Sold in Q2

By , 24 Sep 2019, 12:31 PM Business
New Real Estate Sales Lowest on Record, Just 60 Properties Sold in Q2 JL Flanner

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STA, 23 September 2019 - Sales of new housing properties have dropped to the lowest level on record in the second quarter of 2019, according to data released by the Statistics Office. Meanwhile, more than 1,360 second-hand houses were sold this second quarter, the most since the second quarter of 2017. In total, sales reached highest value since 2017.

New flats are on the other side of the spectrum, as only 42 were sold, the least since new real estate sales have been recorded. But faring even worse were new houses, with only 18 of them being sold in the second quarter.

The prices of new housing properties dropped by 3.1% over the first quarter. Prices of new houses went down by 9.3%, while apartments grew by 0.3% after growing by 9% in the first quarter.

On the yearly level, prices of new real estate increased by 3.6%: flats went up by 9.3%, while houses were 6.3% cheaper.

Prices of second hand real estate went up by 1.5% over the previous quarter; houses by 2.5% and apartments by 1%. Compared to the same period last year, prices of second-hand properties were up 2.1%; apartments increased by 2.3% and houses by 1.7%.

In total, EUR 330 million deals were closed, the most since the second quarter of 2017, when the figure reached EUR 354 million.

Prices have gone up by 1.3% in the second quarter compared to the first and have grown by 2.2% compared to the same period last year.

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