The sale and purchase of non-commercial properties, i.e. homes or holiday homes, fell by 29% in the Canary Islands in April, compared to the same month of 2022, although the average price increased by 12.6%, according to data from the General Council of Notaries published yesterday (Wednesday), which also shows that the number of mortgages signed fell by 22.3%.
Nationally, the number of sales and purchases of home and holiday homes fell by 20.7% year-on-year in April, to 49,639 transactions, while the average price per square metre stood at 1,622 euros, which is 0.9% more than in April 2022.
By type of housing, sales of apartments fell by 20.2% year-on-year to 38,269 transactions, while sales of single-family homes fell by 22.3% year-on-year to 11,370 units.
Apartment prices fell by 0.2% in April compared to the same period in 2022, to 1,787 euros/m2, while the price of single-family homes averaged 1,308 euros/m2, an increase of 1.5%.
By region, the smallest drop was in Murcia (-9-7%), with all the following regions below the national average: Aragón (-20.4%), Comunidad Valenciana (-15.9%), Extremadura (-14.8%), Castilla-La Mancha (-12.8%), Galicia (-10.2%), and Castilla y León (-9.8%).
The regions with the biggest drop in sales, and above the national average were: La Rioja (-33.6%), the Canary Islands (-29%), Madrid (-28.9%), the Basque Country (-25.1%), Navarre (-25%), the Balearic Islands (-23.7%), Andalusia (-22.4%), Asturias (-22.4%), Catalonia (-21.9%), and Cantabria (-21.4%).
The highest property price increases in April were recorded in Castile-La Mancha (+20.3%), Aragon (+17.2%), the Canary Islands (+12.6%), and Asturias (+11.7%).
The number of mortgages signed in Spain fell by 31.9% year-on-year in April, to 21,884 transactions. The average amount of these loans also fell by 6.4% year-on-year to 142,306 euros. The percentage of purchases financed with a mortgage was 44.1%, and the average percentage borrowed was 70.6% of the purchase price.
The number of mortgages for house purchases have now gone five months without growth, and have exceeded negative rates of 25% in the Basque Country (-31.8%), Andalusia (-31.5%), Castile-La Mancha (-29.1%), Asturias and Galicia (-28.5% in both cases), and in the Valencian Community (-25.3%).
