Spanish housing sales record second fall in March, down by 5.7%

madrid rental market

Alphavalue/DIVACONS| Housing sales recorded a declining rate of 5.7% year-on-year in March to a total of 55,778 operations, in a context of higher interest rates to contain inflation, according to the National Statistics Institute (INE) on Thursday. With this year-on-year decline, housing sales are now showing two successive months of negative rates after declining by -6.6% in February.

On the other hand, the Denaria platform branded as “abusive and arbitrary” the fact that the new Housing Law obliges rental payments to be made by electronic means. The platform pointed out that this prohibition on paying rent in cash sets a “serious” precedent, as for the first time in the European Union, a country has banned the use of the euro in practice.

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