Housing sales and purchases grew by 11.9% despite a 7.9% rise in prices

According to the notaries, the sale and purchase of homes in Spain rose by 11.9% year-on-year in August, while the average property price increased
The sale and purchase of homes reached 38,154 transactions in August 2021, while the average price per square metre stood at 1,396 euros, with an increase of 7.9% compared to the same month in 2020.

This is clear from the data released today by the General Council of Notaries (Consejo General del Notariado), which show that the sale and purchase of apartments increased by 13.8% year-on-year, reaching 27,599 operations, while single-family homes rose by 7.1% compared to August last year, to 10,553 transactions.
house part
For their part, apartment purchases fell by 2.6% compared to August 2020, and reached 1,552 euros per square metre, while the price of single-family homes averaged 1,171 euros per square metre, showing an 18.3% increase.

According to the notaries, home sales rose in 13 autonomous communities in August and fell in four. The most striking increase was witnessed in the Balearic Islands, with a year-on-year rise of 37.8%, while the biggest fall happened in the Basque Country, with a decrease of 13.5%.

The regions where the rise was above the national average were Asturias (+6%), Galicia (+5.8%), Castilla-La Mancha (+5.5%), Aragon (+4.4%) and Extremadura (+1.7%).

The price of housing increased by 7.9%

Likewise, the price per square metre rose by 7.9% year-on-year, although showing some inter-territorial disparity, as it increased in 14 communities and fell in three: Aragon (-6.4%), Extremadura (-2%) and Murcia (-0.8%).

By contrast, the largest double-digit rises were seen in La Rioja (+37.9%), the Balearic Islands (+17.3%), the Basque Country (+16.4%), Andalusia (+16%), the Canary Islands (+11.3%), Galicia (+10.7%) and Madrid (+10.3%).

Amount of mortgage rose by 11.8%

In August, mortgage loans for house purchases rose by 11.8% year-on-year at the national level, to 20,187 transactions. The average amount of these loans fell by 1.6% year-on-year to 132,940 euros.

The percentage of home purchases financed through a mortgage loan stood at 52.9%. Moreover, in this type of financed purchase, the amount of the loan represented on average 74.2% of the price.

By regions, mortgage loans for house purchases grew in 13 autonomous regions and fell in the Basque Country (-16.6%), La Rioja (-13.6%), Navarre (-6.7%) and Madrid (-2.9%). While the largest increases were recorded in the Balearic Islands (+48.6%), the Canary Islands (+33.1%), Valencia (+27%), Murcia (+19.5%), Catalonia (+18.5%) and Galicia (+16.3%).

With regard to the average amount of mortgage loans for property purchase, notaries noted a disparate evolution at the regional level. Thus, increases were witnessed in nine autonomous communities, with the Balearic Islands (+53.9%) and Murcia (+11.5%) standing out, and decreases in eight, mainly in Navarre (-26.2%) and Cantabria (-11.1%).

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