The Price Of Housing And Purchases Grow At A Slower Rate
The real estate market continues to show signs of slowing down. The number of home sales increased by 3% in the interannual rate in July, reaching 69,015 operations. The rise is less than the 3.5% registered the previous month. The average price per square meter also grew, although it did so more moderately: 0.3%, reaching 1,583 euros. The previous rise was 4.1% year-on-year.
These are data from the General Council of Notaries, which also reveal that by type of housing , the sale of flats increased by 6.1% year-on-year, to 53,088 units, while those of single- family homes fell by 6.2% year-on-year, to 15,927 units .
The prices of flats fell by 0.5% compared to the same month of the previous year, reaching 1,749 euros per square meter, while the price of single-family homes stood at an average of 1,301 euros per square meter, with an increase of 0.2%.
By autonomous communities, the sale of homes grew in eleven of them and fell in six . The greatest advances were recorded by the Canary Islands (+23.4%), Castilla-La Mancha (+12.5%), Aragón (+12.1%), the Basque Country (+11.2%), Asturias (+9, 8%) and the Valencian Community (+8.9%). At the other extreme, with the greatest decreases, are Navarra (-20.4%), Cantabria (-16.1%) and La Rioja (-15.1%).
For its part, the price per square meter rose by 0.3% year-on-year at the national level in the month of July. Prices increased in thirteen communities and only fell in Navarra (-18.7%), Cantabria (-6.3%), the Balearic Islands (-5.4%) and the Basque Country (-3.6%). The largest increases, by contrast, were recorded in the Canary Islands (+19.6%), La Rioja (+17.5%), Asturias (+13%) and Castilla y León (+11.2%).
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Mortgage loans for house purchase grew by 2.8% year-on-year in July , to 35,218 operations. The average amount of these credits fell by 3.3% year-on-year, to 153,183 euros. In June, mortgage loans for house purchase fell by 2.9% year-on-year at the national level, to 34,414 operations.
Notaries explain that the percentage of home purchases financed by a mortgage loan stood at 51% in July. In addition, in this type of purchase with financing, the amount of the loan represented an average of 72.7% of the price.
At the regional level, mortgage loans for house purchase rose in twelve communities. The largest double-digit increases were experienced by Asturias (+27.4%), Extremadura (+18.4%), Aragón and Canarias (+16.4% in both cases) and La Rioja (+13%). On the opposite side, the greatest decreases occurred in Navarra (-23.8%), Galicia (-5.6%) and Murcia (-3.2%).
Sophia Tesfaye is one of the highly experienced employees among the staff at the The Conway Bulletin News portal. Sophia handles our Finance and Technology column. She is an immensely knowledgeable person. She loves reading books, and by book, it means of all the genres. Maximum of the time she is found in the office library searching for topics for her articles. She is an excellent team leader and unique in her ways.
