people who have variable mortgage loans There are serious monthly increases in the installments they pay due to the unstoppable increase in Euribor, which fell for the first time in 20 months in August. Index including most mortgages closed in spain September on average 4.149%above 4.073% from August. However, those with mortgages variable type Those who have to examine the loan with September Euribor, rise of dues more moderate than those experienced by users of the data. last year august.
Although there are variable rate mortgages that are reviewed every six months, most do so once a year. If Euribor rises, rates rise higher than a year ago per month, which serves as a reference for reviewing the loan. It is precisely because the new levels of Euribor compare with those in Europe that the quota increases are starting to soften and will become more pronounced in the coming months. Second part of 2022significantly higher than in the first half of this exercise.
To increase
This increase in interest rates causes both new and second-hand housing prices to increase and sales and mortgages to slow down. mortgages.
According to the Valuation Society (ST), houses became 3.7% more expensive in September compared to the previous year; This rate increased by 1.7% in the half-year to 1,835 Euro/m². These data show that prices continue to increase in a more controlled manner.
The Valuation Association’s forecasts indicate that this stabilization trend in the increase in average prices of new and used homes as a whole will continue in the coming months. Thus, it is estimated that the average cost of housing will be 1,850 euros/m2 by the end of 2023. This means an increase of 3.5 percent annually and 1.65 percent in six months.
In absolute values, community of madrid continues its leadership in the highest prices (2,905 euro/m²); followed by Catalonia (2.542 Euro/m²) and Balearic Islands (2.488 Euro/m²). At the other end Estremadurawith the lowest price (945 Euros), it is also the only autonomy that does not exceed the 1,000 Euro/m² limit.
Source: Informacion
James Sean is a writer for “Social Bites”. He covers a wide range of topics, bringing the latest news and developments to his readers. With a keen sense of what’s important and a passion for writing, James delivers unique and insightful articles that keep his readers informed and engaged.