SANTA CRUZ DE TENERIFE/MADRID, Aug. 29 (EUROPA PRESS) –
The Canary Islands led the drop in the sale of homes in the second quarter, falling 17.8% compared to the previous quarter, with 6,570 operations and an average price of 2,344 square meters, 8.1% more, according to data from the Association of Registrars.
The purchase and sale fell especially in the modality of new housing with 26% while in the used the decrease was 15.4%.
In Spain, the purchase and sale closed the second quarter with a total of 151,983 registered operations, which represents a decrease of 7.3% compared to the same quarter of the previous year and 5.6% less quarter-on-quarter, confirming the predominantly downward trend, according to data of the College of Registrars.
In disaggregated data, new housing registered 28,739 sales between April and June, which is 5.7% less than the previous quarter, while used housing registered 123,244 operations, with a quarterly decrease of 5.6%.
Regarding data for June, home sales fell by 7.5% compared to the same month of the previous year, to 51,106 operations, while total sales fell by 2.6% year-on-year, reaching 101,097. with which seven consecutive months of decreases accumulate, after continuous growth since March 2020.
THE PRICE OF HOUSING RISES BY 3.1% ANNUALLY
The average price of housing in Spain closed the second quarter of the year at 1,979 euros per square meter, which is 1.12% more than in the same quarter of 2022 and 3.1% more quarter-on-quarter, after two quarters of falls consecutive years, due to the rise in new housing (4.1%), and, to a lesser extent, the increase in used housing (2.7%).
By autonomous community, in the second quarter, the highest average prices were located in Madrid, with 3,299 euros per square meter, followed by the Balearic Islands (3,214 euros), the Basque Country (2,943 euros) and Catalonia (2,474 euros).
In the opposite direction, the lowest prices were registered in Castilla la Mancha (864 euros) and Extremadura (783 euros), the only communities below 1,000 euros per square meter.
MORTGAGES FALL FOR FOUR CONSECUTIVE QUARTER
The number of home mortgages fell for the fourth consecutive quarter, reaching 93,557 in the second quarter of the year, which represents a decrease of 14.5% compared to the previous quarter.
Thus, the quarterly percentage of registered mortgages over registered home sales has also dropped significantly, specifically by 6.4 percentage points during the last quarter, with registered mortgages over registered sales reaching a proportion of 61.6%.
In the month of June alone, 31,632 home mortgages were constituted, 22.6% less than in June 2022. Regarding total mortgages, 41,761 were registered in June of this year, 22.5% less.
FOREIGN DEMAND REACHES 15% OF PURCHASES
Foreign demand for housing reached 14.9% of sales, which is 0.4 percentage points more than the previous quarter, and represents the second highest result in the historical series after the maximum reached in the third quarter of 2022 ( 15.9%), and becoming a relevant factor in maintaining high amounts in the number of sales.
The British once again led the results with 8.8% of purchases, followed by Germans (7.3%), French (6.6%), Moroccans (5.4%), and Italians and Rumanians (5.2 %).
By autonomous communities, their percentage weight increased in eleven, compared to five that has fallen. The largest volumes correspond to the Canary Islands (30.6%), the Balearic Islands (30.4%), the Valencian Community (29.9%), Murcia (23.6%), Catalonia (15.4%) and Andalusia (14, 2%).
