March 7, 2021

The price of housing moderates to 6.7% and sales grow close to 12 percent

The price of housing moderates to 6.7% and sales grow close to 12 percent



The price of housing moderated its increase in the third quarter of the year after rising by 6.7%, with which this indicator has recovered 26.5% from the minimum prices recorded at the end of 2014, as reported today by the College of Registrars.

With this new increase, the price of housing is 18% below the maximum reached in mid-2007, a percentage that even exceeded 35%.

Along with the increase in prices, between July and September, 133,295 home purchases were registered in the property registers, 11.9% more than in the same period of the previous year.

However, if compared to the previous quarter, sales have been reduced by 0.7%, although they have registered the second highest number of quarterly sales since mid-2008.

With all this, in the last twelve months 508,402 purchases have been registered, a figure that was not reached since 2008.

As regards new housing, sales reached 23,420 in the third quarter, 3.4% more than in the previous quarter, intensifying the growth of the second quarter (1.6%).

In used housing, however, 109,875 purchases were recorded, with a decrease of 1.5% over the second quarter.

On the other hand, 12.1% of purchases in the third quarter were made by foreigners, compared to 12.9% in the previous quarter, which meant slightly less than 16,000 transactions registered.

The nationalities with the greatest buying activity by foreigners were again the British, with 16.2%, followed by French (7.7%), Germans (6.8%), Belgians (5.9%) and Romanians (5 , 9%) and the most demanded sites to acquire a home were the Balearic Islands, where 27.9% of the purchases were made by foreigners, the Canary Islands (25.3%) and the Valencian Community (25%).

In the last twelve months, foreigners registered more than 65,500 home purchases, 12.9% of the total.

Mortgage indebtedness for housing increased by 5.2% year on year with 125,592 euros and the average duration of new mortgage loans reached 23 years and 4 months, same number as the previous quarter.

The accessibility indicators deteriorated in the third quarter of the year and the average monthly mortgage payment was 577.6 euros, 30.3% with respect to the wage cost.

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