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%).
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Source: idealista
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