{"id":2829,"date":"2020-01-17T13:49:18","date_gmt":"2020-01-17T12:49:18","guid":{"rendered":"https:\/\/www.marbellaforsale.com\/blog\/?p=2829"},"modified":"2020-03-23T17:05:02","modified_gmt":"2020-03-23T16:05:02","slug":"house-prices-down-slightly-in-november","status":"publish","type":"post","link":"https:\/\/www.marbellaforsale.com\/blog\/house-prices-down-slightly-in-november\/","title":{"rendered":"House Prices Down Slightly in November"},"content":{"rendered":"
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Home mortgages increased 10.3% in November<\/p><\/div>\n

Sales of housing in November reached 47,182 transactions, according to notaries<\/a>. This represents a year-on-year fall of 5.6%. The average price per square metre of homes sold in November was \u20ac1,406<\/strong>, representing a slight fall of 0.4%.<\/p>\n

Meanwhile, there was a 10.3% increase in new mortgage loans taken for the purchase of a home in November, with 24,638 new loans agreed. The average amount of those loans fell by 2.5%, year-on-year, to \u20ac133,506.<\/p>\n

Property Sales<\/h3>\n

By type of property, the sale of apartments showed a 6.3% year-on-year reduction<\/strong>. This was due to a contraction of second-hand property sales (-4.1%) and also sales of new property<\/a> which suffered a 20.7% fall. The sale of single-family homes also suffered a decline in numbers but only slightly, seeing a 3.4% drop in sales.<\/p>\n

In terms of average prices, a square metre of homes purchased in November reached \u20ac1,406, reflecting a slight fall of 0.4% year-on-year. This small reduction was due exclusively to the fall in price of single-family homes which showed a 4.8% annual decline. The price of flats\/apartments registered a slight annual increase with prices rising 2.2%<\/strong>.<\/p>\n

Finally, in November the purchase and sale of other types of properties stood at 10,799 operations (-11.2% year-on-year), of which 38.3% corresponded to land or plots. The average price per square meter of these land transactions was \u20ac218 (-12.6% year-on-year).<\/p>\n

Mortgages<\/h3>\n

The total number of new mortgage loans made in November was 32,911, which represents an increase of 6.8% year-on-year. The average amount of those loans was \u20ac171,143, reflecting a fall of 1.3% year-on-year.<\/p>\n

New mortgages taken for the acquisition of a property increased in November by 10.8%<\/strong> year-on-year to 26,455 loans. This was due both to the increase in the granting of loans for the acquisition of a home (10.3% year-on-year) and to the increase in mortgage loans for the acquisition of other real estate (19.1% year-on-year). The average amount of loans for property acquisition reached \u20ac136,871 (-3.1% year-on-year). In the case of housing, the average capital was \u20ac133,506, reflecting a decrease of 2.5% year-on-year.<\/p>\n

Loans taken for construction showed a year-on-year decrease of 7.7% in November, to 597 operations. The average amount of capital borrowed in those cases was \u20ac627,338, an interannual increase of 20.8%. The average amount of loans for the construction of a house increased substantially, growing by 42.3% to \u20ac369,909 (480 operations).<\/p>\n

The percentage of home purchases financed by a mortgage loan stood at 54%. Additionally, in this type of purchase with financing, the amount of the loan was 74.6% on average.<\/p>\n

Written by Marbella For Sale<\/strong><\/a>.<\/p>\n

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