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%).

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