The price per square meter drops by 2%
MADRID, 13 Dic. (EUROPA PRESS) –
The purchase and sale of homes fell by 5.6% in October 2023 compared to October 2022, while the granting of mortgage loans for the purchase of a home fell by 12.6%, according to statistics published this Wednesday by the General Council of the Notaries.
According to the report, in Spain the number of sales decreased by 5.6% year-on-year in October, reaching 51,952 units and the average price per square meter stood at 1,585 euros, registering a decrease of 2%.
By type of housing, apartment sales decreased by 4% year-on-year, reaching 39,804 units, while single-family homes decreased by 10.3%, reaching 12,149 units.
Apartment prices registered a decrease of 2%, reaching 1,749 euros per square meter, while the price of single-family homes averaged 1,285 euros per square meter, registering a decrease of 3.5%.
According to the notaries, housing sales grew in four communities, and decreased in the remaining thirteen. The Autonomous Communities where a positive evolution was recorded were Extremadura (19.7%), Navarra (6.9%), Asturias (4.4%) and Aragón (2%). On the other hand, with a negative evolution but with a better performance than the national average (5.6%) are the Canary Islands (-3.8%), Murcia (-3.4%), Cantabria (-1.6% ) and Galicia (-1.1%).
The largest decreases were recorded in the remaining communities: Balearic Islands (-19.5%), La Rioja (-9.8%), Castilla-La Mancha (-9.2%), the Basque Country (-8.8% ), Madrid (-7.8%), Castilla y León (-6.9%), Andalusia (-6.7%), Valencian Community (-6.2%) and Catalonia (-5.7%).
In nine autonomies there was an increase in the price of housing and in the remaining eight it decreased. By order of magnitude, double-digit increases were recorded in La Rioja (22.8%), Extremadura (19%) and Navarra (13.7%). While in the Valencian Community (6.5%), Andalusia (4.7%), Cantabria (2.8%), Asturias (2.3%), Madrid (0.8%) and Murcia (0.7 %) there were more moderate growths.
On the other hand, housing prices registered declines in: the Balearic Islands (-7.2%), the Basque Country (-6.3%), Aragon (-2.6%), Castilla y León (-1.7% ), Galicia (-1.7%), the Canary Islands (-0.6%), Catalonia (-0.4%) and Castilla-La Mancha (-0.4%).
In October, mortgage loans for home purchases decreased by 12.6% year-on-year, to 22,625 transactions. The average amount of these loans decreased by 3.3% year-on-year, reaching 143,208 euros on average.
The percentage of home purchases financed by a mortgage loan stood at 43.5%. Furthermore, in this type of purchases with financing, the amount of the loan represented on average 71.2% of the price.
Mortgage loans for the purchase of housing decreased in all autonomous regions, however, there was a better performance than the national average in Madrid (-11.7%), Catalonia (-11.4%), Valencian Community (- 10.9%), Galicia (-9.6%), Aragon (-5.8%), Extremadura (-5.8%), Canary Islands (-3.9%) and the Basque Country (-1.4 %).
On the other hand, Navarra (-28.0%), Balearic Islands (-21.7%), Cantabria (-18.5%), Asturias (-17.6%), Castilla-La Mancha (-16.7% ), Andalusia (-16.6%), Murcia (-16.1%), La Rioja (-14.0%) and Castilla y León (-13.9%) exhibited steeper falls than the national average.
Regarding the average amount of new mortgage loans for home acquisition, the evolution continued to be uneven by community, as it grew in five and decreased in the remaining twelve. The increases in La Rioja (9.0%) and Asturias (6.4%) and the declines in Aragón (-18.5%) and the Basque Country (-8.5%) stood out.
