More housing market data from Spain

Five bedroom villa Benitachell/Moraira area - check out the views

The housing market continues to rise in #Spain, although it is beginning to show symptoms of fatigue.‎‎ According to the latest data from the notary offices throughout Spain, in May 63,921 home sales and 32,423 mortgages were formalized. In both cases, this is the‎‎ best figure for the month of May since 2007‎‎, although the growth rate is slowing.‎

‎Transactions rose by 7.3% year-on-year in Spain as a whole, but Madrid, Murcia, Asturias and Navarra recorded decreases. 

The notarial statistics show that the sales of apartments increased by 8.8% year-on-year, reaching 48,821 units, while single-family units increased by 2.8% year-on-year, reaching 15,099 transactions. ‎

‎Operations grew in 13 Autonomous Communities‎‎, with the Canary Islands (34.8%), the Valencian Community (16.1%), Extremadura (13.1%), Aragon (12.5%) and Cantabria (11.8%) leading the increases. Already with single-digit increases we find Catalonia (8.5%), Andalusia (8.2%), La Rioja (6.9%), Galicia (5.8%), Castilla-La Mancha (5.4%), the Basque Country (4.5%), Castilla y León (3%) and the Balearic Islands (1.4%). On the other hand, decreases were recorded in Madrid (-3.7%), Murcia (-3.6%), Asturias (-3.2%) and Navarra (-3%).‎

‎In the case of mortgages, 10 regions marked positive year-on-year numbers, with double-digit‎‎ rates in the Balearic Islands (19.3%), Aragon (11.0%) and Extremadura (10.5%). However, the number of new loans fell in the remaining seven autonomous regions: Murcia (-19.4%), Asturias (-13.3%), Navarra (-4.3%), Comunidad Valenciana (-2.9%), La Rioja (-1.7%), Madrid (-1.2%) and Andalusia (-0.4%).‎

‎Notaries place ‎‎the average amount of loans at 147,166 euros‎‎, with a year-on-year increase of 2.1% in Spain as a whole. The increases in Galicia (20.8%), Murcia (10.1%) and Madrid (10%) and the setbacks in Navarra (-13.3%) and Aragon (-11%) stood out.‎

‎The percentage of home purchases financed by a mortgage loan stood at 50.7%. In addition, in this type of purchases with financing, the amount of the loan represented on average 73.7% of the price.‎

The price of homes sold grows‎

‎The average price of properties sold in the fifth month of the year stood at‎‎ 1,548 euros/m2.‎‎ Although it increases by 3.8% compared to May 2021, it is the‎‎ second lowest amount of the year‎‎, only behind that registered in February. ‎

‎Notaries affirm that the prices of apartments had an increase of 1.7% with respect to the same month of the previous year, to reach 1,711 euros / m2, while the price of single-family homes averaged 1,272 euros / m2 registering an increase of 8.1%.‎

‎More than half of Spain has registered an increase in prices‎‎, with the Canary Islands (22.1%), Aragon (18%), Madrid (12.9%), Valencia (11.8%) and Murcia (10.9%) leading the increases. On the other hand, house prices registered declines in Extremadura (-16.5%), Navarra (-12.4%), Castilla-La Mancha (-2.4%) and La Rioja (-0.1%).‎

If you like the look of this villa, located in between Moraira and Benitachell, click here for more details.

Source: idealista

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