The sale of homes and the signing of mortgages continue to grow in 2021. According to data from notaries, 56,958 housing transactions were formalized in October, 14.4% more than last year and the highest figure of a 10th month of the year since 2007. In the accumulated of the year, more than 527,000 houses have been sold throughout Spain, above those that were transacted in annual terms between 2009 and 2016, and practically the same as in all of 2017.
The prices of the properties sold also rose, rising 7.9% year-on-year, to stand at 1,485 euros per m2. It is the second highest level so far this year, only surpassed by the average price registered in January.
For its part, the signing of mortgages for the purchase of a home has increased by 7% compared to October 2020, with 26,570 new loans. As in sales, this is the maximum figure for October in the last 14 years. What’s more, In the accumulated of the year, there are more than 278,800 formalizations, which already makes 2021 the best year since 2008.
As can be seen in the historical evolution, if the current rhythm of home sales and mortgage firms is maintained, this year could be the best since 2007, at the height of the real estate peak.
According to notarial statistics, in October, sales of flats increased 17.2% year-on-year, reaching 42,194 units, while single-family units increased 7.3% year-on-year, reaching 14,764 units.
A total of 13 autonomies have registered a rebound in housing transactions, with the Balearic Islands being the region with the highest increase year-on-year (39.4%), followed by Cantabria (24.9%), Navarra (23.3%), Andalusia (20.6%), Galicia (19.4%), Basque Country (18.2%) , Canary Islands (17.5%), Valencian Community (17.2%), Catalonia (16.3%), Madrid (13.1%) and Castilla y León (10.8%). They also showed increases, although in one digit, the sales of housing in Castilla-La Mancha (2.3%) and Murcia (1.6%). and the biggest decline in Extremadura (-7.1%).
On the other hand, falls were registered in the four remaining autonomies: Extremadura (-7.1%), La Rioja (-6.9%), Aragón (-5.0%) and Asturias (-3.6%).
With regard to prices, the highest rise was registered in single-family homes, with an increase of 13.3% year-on-year, to stand at 1,212 euros per m2. In the case of flats, the increase was 4.3%, reaching 1,661 euros per m2. On a national scale, homes sold have become more expensive in 11 communities: Navarra (39.2%), the Balearic Islands (23%), Andalusia (16.1%), Madrid (11.1%), Cantabria (10.8%) and the Valencian Community (10.2%). The increases were of one digit in Catalonia (9.0%), Murcia (8.2%) and Castilla y León (7.2%), Galicia (7.0%) and Asturias (1.8%).
On the other hand, La Rioja (-45.4%), Canarias (-16.1%), Aragón (-8.3%), the Basque Country (-6.8%), Extremadura (-4.1%) registered declines ), and Castilla-La Mancha (-2.0%).
In the case of the signature of mortgages, 10 autonomies have registered an increase in operations in October, reaching double-digit rates in the Balearic Islands (32.0%), Cantabria (26.3%), the Canary Islands (20.5%), Catalonia (11.9%), Galicia (11.8%), the Basque Country ( 11.0%) and Andalusia (10.8%). On the other hand, there have been falls in Asturias (-14.3%), Aragón (-13.1%), Castilla-La Mancha (-11.6%), Murcia (-7.8%), Navarra (- 4.0%), Extremadura (-2.2%) and Castilla y León (-1.5%). In the tenth month of the year the average amount of mortgages has also increased, which has risen by 1.9% year-on-year, reaching 142,626 euros.
Finally, data from notaries shows that the percentage of home purchases financed by a mortgage loan stood at 46.6%. In addition, in this type of purchases with financing, the amount of the loan was on average 73.3% of the price.
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