April brought a solid rise in sale activity and a cautious uptick in prices. In year-over-year terms, the sales momentum grew by 15.5 percent, while the average price per square meter advanced by about 6.5 percent. Mortgage activity for purchases rose by roughly 14.7 percent, yet the total loan amount decreased by around 1.3 percent. These figures come from the Notaries General Assembly, with April closing at 60,734 signed sales. The average price stood at 1,575 euros per square meter. When broken down by housing type, flats led the gains with a 16.5 percent increase in transactions to 46,377 units, while single-family homes rose 12.4 percent to 14,357 units. Flat prices rose 3.6 percent year over year to 1,749 euros per square meter, whereas detached homes saw prices climb 13.5 percent to an average of 1,283 euros per square meter. These numbers illuminate a moment of measured vigor in the market and a selective lift in pricing.
The overall residential landscape in Spain shows a degree of optimism in sales alongside modest price increases. Yet a sharp rise in interest rates creates a layer of complexity for buyers who expect mortgage costs to climb by about two percentage points over the next year or two. In this context, buyers should secure a solid financial cushion or consider a fixed-rate loan with the lender. Fixed-rate products are increasingly difficult to obtain at very low rates. The Spanish Mortgage Association, which aggregates most lending institutions, projects a decline in fixed-rate mortgages to roughly half of current levels within a year, down from about 73 percent today. Market watchers anticipate a shift toward blended financing, combining an initial fixed-rate period with a later adjustable phase. At present, many buyers are aiming for fixed rates below 1.5 percent and total loans not exceeding 60 percent of the home price. [Citation: Spain Mortgage & Real Estate Data, National Source]
Online mortgage activity shows a national uptick in April. Home purchase loans rose 14.7 percent year over year to 32,192 deals, while the average loan amount slipped 1.3 percent to 147,693 euros. Regional performance varied: most autonomous communities posted higher sales, with Murcia an exception, recording a 2 percent decline from the previous year. Regions outperforming the national average included Navarra (50.4 percent), Canarias (45.5 percent), Cantabria (29.3 percent), Balearic Islands (22.9 percent), Andalusia (22 percent), Valencian Community (21.5 percent), and Castilla y León (17.9 percent). Castilla-La Mancha, Catalonia, Asturias, Aragon, and Extremadura also posted strong double-digit gains, though still below the top performers.
In terms of pricing by region, increases occurred across most areas except Castilla-La Mancha (down 11.5 percent) and Navarra (down 1.8 percent). The strongest annual price increases were in Andalusia (18.3 percent), Murcia (13.1 percent), Valencian Community (13.1 percent), Galicia (12.8 percent), Madrid (11 percent), and the Balearic Islands (10.2 percent). Other regions saw more moderate gains. The same April period saw mortgage activity rise to 32,192 home purchase loans, with the average loan amount at 147,693 euros, a 1.3 percent dip from April 2021. Financing through mortgages accounted for 53 percent of purchase price, while the average loan-to-value hovered near two-thirds of home price. By region, mortgages grew in all areas except Murcia, which fell by 4.4 percent, with eleven regions posting double-digit gains such as Cantabria (35.8 percent), Castilla y León (31.6 percent), Canary Islands (28.1 percent), Andalusia (24.8 percent), Navarra (23 percent), and Catalonia (20.2 percent).
Looking at the average new mortgage loan for home purchases, growth remained uneven across regions. Some communities saw advances, others a retreat. Notable increases occurred in Andalusia (9.9 percent), Castilla y León (8.3 percent), Galicia (7.7 percent), and Aragón (6.2 percent). The Balearic Islands reported a noticeable rise of 14.7 percent, while Extremadura faced a decline of 14 percent. These patterns illustrate how regional dynamics shape borrowing and buying decisions in the Spanish market.