In summary, although housing prices have increased in Catalonia, changes have also been observed in sales and mortgages. If you are considering purchasing a home in the region, it is important to be aware of these trends to make informed decisions.
In Catalonia, the real estate market has experienced some interesting trends in recent times. Below, I provide you with some relevant information:
Housing Prices:
The average price per square meter for homes purchased in Catalonia in February 2024 was 2,095 euros/m². This represents an increase of 5.54% compared to the same month last year.
The average price of free housing varied by 3.53% in quarter 4 of 2023 in an interannual rate.
Home Purchase and Sale:
In February 2024, 8,518 home sales were carried out in Catalonia, which represents an increase of 6.81% in the interannual rate according to the INE Estadística de Transmisiones de Derechos de la Propiedad Property Rights Transfer Statistics. The total number of transactions according to the General Council of Notaries was 8,155, with an interannual variation of 14.67%.
By type of home, the purchase and sale of free homes varied by 8.38% in February 2024, while operations on protected homes experienced a change of -12.54%.
Mortgages:
The number of mortgaged homes in February 2024 was 6,388, with a decrease of 2.67% in the interannual rate.
Mortgage loans for the purchase of homes in Catalonia registered a year-on-year decrease of 33.4% in September 2023. After more than two years of constant increase, mortgage payments are beginning to experience a symbolic reduction. The Euribor for April is slightly below last year's value, going from 3.757% to 3.704%. Although the decrease is modest, it represents a hopeful change in trend for mortgage holders, since it allows an average saving of four euros on variable mortgages.
Housing Price Evolution:
Over time, housing prices in Catalonia have experienced variations. For example, in June 2007, the average price per square meter was 2,677 euros/m², while in February 2024 it reached 2,095 euros/m².