Rising rates and call for election bankrupt real estate activity

It rose from 92,648 operations in April 2022 to 84,195 in April of this year, down about 8,500 operations. Home sales also fell significantly, though more moderately than the total, to 42,139 from 46,163 registrations in April 2022, representing a reduction in more than 4,000 operations.

Mortgage companies fell more sharply in March and April, with decreases of close to 20%. In residential mortgages, 25,945 transactions were created in April compared to 32,149 transactions in the same month of the previous year, and around 6,200 transactions decreased. In addition, brokers in the real estate sector also confirm the ownership of customers. problem to achieve mortgage loans. In parallel, those with mortgages face early cancellations to minimize the impact of an increase in rates interest.

On a provincial basis, the annual development of total sales in April compared to the same month of the previous year once again shows overall decreases, especially in Ceuta Autonomous City (-50.0%), Basque Country (-28%, 0.0%). ), La Rioja (-20.4%), Balearic Islands (-17.1%), Aragon (-13.6%), Galicia (-12.6%), Catalonia (-12.4%) and Extremadura (-11.8%). There were increases only in Melilla (265.2%) and in the Community of Valencia and Cantabria (both 3.5%). Concerning total mortgages created from April of the previous year, in Extremadura (-31.1%), Balearic Islands (-28.8%), La Rioja (-28.6%), Navarra and Catalonia (-28%) .4) and Galicia (-27.6%), Ceuta (140.9%), Melilla (51.7%), Valencia (7.0%) and Aragón (6.2%) It increased.

price question

In terms of prices, data from valuation firm Tinsa show that the average price of new and used homes in Spain increased by 0.3% between April and May, placing the year-to-year variation at 4.8%, a more moderate level than the previous month and in May. more than 2022. “Average national home price remains stable due to rising cost of financing and loss of purchasing power in the face of inflation, but employment remains solvency of households. As a result, buying and selling activity is gradually moderating and remains above 2019 levels,” he said. Cristina Arias, director of Tinsa’s Research Service, however, the analysis by region shows divergent behavior between regions with the highest tourism uptake and the rest. “Buyers in this segment have more purchasing power and are less sensitive to inflation and rising mortgage costs, as they often need less external financing to buy a second home,” explains Arias.

Also released this Tuesday, Fotocasa’s data offers a slightly different still image and slightly higher average price increases. Thus, house prices in Catalonia increased by 6.4% yoy in May and rose to 2,744 Euros per square meter in May. Fotocasa Real Estate Index shows that 17 autonomous communities increased the annual average price in May. In six communities, especially Balearic Islands (22.7 %), Navarra (20.2%), Canary Islands (17.9%), Valencian Community (12.0%), La Rioja (10.5%) and Andalusia (10.2%). exceeds 10%. This is followed by the Murcia Region with 9.3%, Catalonia with 6.4%, Cantabria with 5.4%, Aragon with 5.3%, Extremadura with 4.8%, Castilla-La Mancha with 4.8%, 4%, Madrid with 7, Galicia with 3.4%, Castilla y León with 3.0%, Basque Country with 2.7% and Asturias with 2.3%.

The most expensive second-hand housing prices in Spain are in the Balearic Islands and Madrid, with prices of 3,679 euro/m2 and 3,446 euro/m2. Basque Country with 2,968 Euro/m2, Catalonia with 2,744 Euro/m2, Canary Islands with 2,123 Euro/m2, Navarra with 2,012 Euro/m2, Andalusia with 1,897 Euro/m2, Cantabria, Aragon with 1,863 Euro/m2, 1.692 Euro/m2. , Galicia 1.672 Euro/m2, Valencian Community 1.646 Euro/m2, Asturias 1.607 Euro/m2, La Rioja 1.597 Euro/m2, Castilla y León 1.466 Euro/m2, Region of Murcia 1.249 Euro/m2 , Extremadura 1.215 Euro/m2 and Castilla- La Mancha 1,169 Euro/m2.

The most expensive province was Barcelona at 3,051 euros/m2, followed by Girona (2,399 euros/m2), Tarragona (1,722 euros/m2) and Lleida (1,266 euros/m2). Although it changes according to the year, prices increased in May in all four provinces compared to the previous year. The capitals with the highest increase were Girona capital with 7.0%, Lleida capital with 5.2%, Tarragona capital with 4.2% and Barcelona with 2.3%. The most expensive provincial capital is Barcelona with 4,415 euros/m2, followed by Girona capital (2,607 euros/m2), Tarragona capital (1,660 euros/m2) and Lleida capital (1,295 euros/m2).

districts of Barcelona

The average price of second-hand homes in Barcelona is increasing in nine out of ten regions, with the year-to-year variation analyzed by Fotocasa. Housing increases were 7.9% in Nou Barris, 7.6% in Gràcia, 6.6% in Sant Andreu, 5.5% in Sarrià – Sant Gervasi, 4.8% in Sants – Montjuïc, 2.9% in Horta – Guinardó corresponds to the districts of Sant Martí. Eixample 2.0%, Ciutat Vella 1.6% and Ciutat Vella 1.1%. On the other hand, the district where the rental price decreased was Les Corts with -0.1. Considering the square meter prices in May, the three most expensive regions were Sarrià – Sant Gervasi with 6.073 Euro/m2, Eixample with 5.475 Euro/m2 and Les Corts with 5.288 Euro/m2. The districts with the cheapest housing prices were Nou Barris with 2,721 euro/m2 and Sant Andreu with 3,238 euro/m2.