Prices rise in 10 autonomous communities, in Madrid they develop above common In February 48,445 residence gross sales have been closed in Spain The rise in rates of interest has damage the granting of mortgages
The sale of houses accentuated its fall in February by sinking 13.1% within the interannual price, whereas the granting of mortgages plummeted 24.4% in a context marked by the rise in rates of interest and the ensuing enhance in the price of the financing, in line with the information of the notaries.
Only the worth of housing closed February constructive, though the rise was solely 0.3% to 1,582 euros/m², in line with the information dealt with by the General Council of Notaries. Specifically, in February 48,445 residence gross sales have been recorded.
By sort of housing, condominium transactions decreased by 12.4% in comparison with February 2022, reaching 37,317 models, whereas single-family models fell by 15.4% to achieve 11,128 models. The costs of flats had a rise of 0.9% in comparison with the identical month of the earlier 12 months, reaching 1,762 euros/m², whereas the worth of single-family houses averaged 1,247 euros/m², registering a lower of two.4%.
residence shopping for falls
By autonomous neighborhood, the best setbacks in gross sales have been registered in Navarra (-29%); Balearic Islands (-22.2%); Canary Islands (-17.7%); Aragon (-17.4%); Andalusia (17.3%); Catalonia (-16.2%); Madrid (-15.1%); Extremadura (-14.7%) and Murcia (-14.4%). Somewhat extra average have been the falls in Galicia (-11.4%); Basque Country (-11.2%); La Rioja (-10.7%); Castile-La Mancha (-9.4%); Valencian Community (-5.1%); Castilla y León (-3.8%) and Cantabria (-2.7%). The buy and sale of housing grew solely in Asturias (1.5%).
The worth, constructive
At the worth degree, in ten autonomies a rise was registered. By order of magnitude, double-digit will increase have been registered in La Rioja (29.1%); Castile-La Mancha (13.7%); Cantabria (12.2%); Canary Islands (11.8%) and Madrid (11.3%). On the opposite hand, home costs registered setbacks in Aragon (-9.2%); Asturias (-6.7%); Galicia (-5.9%); Navarre (-3.1%); Andalusia (-2%); Murcia (-1.9%) and the Balearic Islands (-1.4%).
Mortgage droop
In February, mortgage loans for home buy decreased by 24.4% year-on-year, to twenty,591 operations. The common quantity of those loans fell by 7.1% year-on-year, reaching a mean of 144,004 euros.
The proportion of residence purchases financed by a mortgage mortgage stood at 42.5%. In addition, in such a buy with financing, the quantity of the mortgage represented a mean of 70.8% of the worth. Mortgage loans for residence buy didn’t register development in any autonomous area and the most important cuts occurred within the Balearic Islands (23.8%); Castilla-La Mancha (-22.7%); Castilla y León (-21.6%); Valencian Community (-18.9%); Canary Islands (-16%); Basque Country (-15.9%) and Cantabria (-12.4%).
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