The average home loan in January was €135,616
Purchases and sales of homes reached 40,388 transactions in January, a slight year-on-year increase of 0.3%, according to the General Council of Notaries.
By type of housing, the sale of apartments showed a year-on-year fall of 1.3%. Meanwhile, transactions for second-hand homes fell by 1.5%, while sales of new property increased by 0.1%. The sale of single-family homes showed an increase of 6.6% year-on-year.
Looking at prices, the average price of a square metre sold in January was €1,424, reflecting a slight increase of 2.6% year-on-year. This increase was due to both the increase in the prices of single-family homes (4.1%) and also that of flats (2.7%).
Of all the sales in January 36.3% corresponded to land or plots. The average price for these transactions was €221 p/m².
Mortgages
The number of new mortgage loans taken in January was 26,922, representing an increase of 3.7% year-on-year. The average amount of those loans was €171,047, reflecting a slight fall of 0.6% year-on-year.
New mortgage loans taken for the acquisition of property increased in January by 5.6% year-on-year (20,730 loans). This was due in part to the increase in loans for the purchase of a home (6.1%), and the decrease in the number of loans taken for the acquisition of other types of property (-1.5%). The average amount borrowed for all new loans was €141,772 (-0.3% year-on-year).
In the case of housing, the average capital borrowed was €135,616, a slight annual increase of 0.9%. For loans taken for the purchase of other types of property, the average loan was €230,028 (-7.1% year-on-year).
New mortgage loans taken for the purpose of construction showed an annual drop of 9.1% in January, to 464 operations. The average amount of those loans was €565,334, reflecting an annual increase of 22.3%. Meanwhile, the average amount of loans taken for the construction of a home increased by 99.6% to €438,598 (371 operations).
Finally, in the case of home purchases, 48% of transactions in January required financing. In those cases, the average mortgage-to-value rate was 74.7%.
