E-purchase of real estate decreased by 29.6% in Q1 2021

In the first three months of this year, real estate purchases through e-commerce totalled € 28.8 million, compared to € 40.9 million. According to the National Commission for Markets and Competition (NCMC), a total of 67,300 transactions were registered, which is 29.6% less than in the same period last year.

On the other hand, the total volume of e-commerce from January to March increased by 27.7%, amounting to 289.2 million transactions. As a result, the average price tag for real estate services contracted over the Internet was 428.2 euros, compared to 43.1 euros for e-commerce in general. This amount shows a decrease of 5% compared to the same period last year.

Of the 28.8 million euros, 7.5 million euros are in foreign trade with Spain, down 52% from last year. As for the trade of Spain with other countries, this figure reached 11.9 million euros, a decrease of 29%. In contrast, domestic trade increased by 11.3% to € 9.4 billion. E-commerce in real estate services accounted for 0.2% of online purchases for the entire Spanish market in the first quarter, at € 12.473 billion.

For the economy as a whole, e-commerce grew 1.9% over the same period in 2020. The most significant number of sales fell in the clothing sector - 9.7% of the total, and it is followed by financial services (5.6%) and gambling and bookmaking (5.5%). In 2020, online sales of real estate services amounted to 160 million euros, down 11.4% compared to 2019, when there were a record number of transactions of 181.6 million euros. In the Spanish economy, e-commerce turnover reached 51,676 million euros, up 45% over the previous year.