Real Estate Market Falters as Mortgage Loans Decrease in Murcia and Across Spain

MURCIA. There is no good data in the real estate market. Since the rise in interest rates became a reality, the mortgage firm has not stopped falling. In April, compared to the same month of the previous year, it registered a fall of 24.9% in the Region, also lowering the average amount of loans to finance the purchase of a home by 1.4%, according to data from the General Council of Notaries. Regarding financing, the percentage that mortgage loans cover of the total housing remained more or less stable, at 76% (92,718 euros). In addition, it should be noted that only 35% of the operations registered in April were financed through a mortgage loan. Something that at the national level stands at 44.1%. In addition, in this type of purchase with financing, the amount of the loan represented an average of 70.6% of the price.

In the whole of Spain, Mortgage loans for house purchase decreased by 31.9% year-on-year, up to 21,884 operations. The average amount of these loans fell by 6.4%, reaching €142,306 on average. The percentage of home purchases financed through a mortgage loan stood at 44.1%. In addition, in this type of purchase with financing, the amount of the loan represented an average of 70.6% of the price. Mortgage loans for house purchase decreased for the fifth consecutive month in all the autonomous regions.

Falls lower than the national average were recorded in: Basque Country (-31.8%), Andalusia (-31.5%), Castilla-La Mancha (-29.1%), Asturias (-28.5%), Galicia (-28.5%), Valencian Community (-25.3%), Murcia (-24.9%), Aragon (-24.3%), the Canary Islands (-22.3%), La Rioja (-21.4%) and the Balearic Islands (- 12.9%). The Autonomous Communities whose rates exceeded the national average were: Navarra (-48.0%), Cantabria (-39.8%), Catalonia (-39.1%), Extremadura (-35.8%), Castilla and León (-34.7%) and Madrid (-34.2%).

Regarding the average amount of new mortgage loans for home purchase, the evolution continued to be uneven by CC. AA., because it grew in two and decreased in the remaining 15. The increases in La Rioja (14.2%) and the Canary Islands (4.5%) and the setbacks in Extremadura (-18.3%) and Castilla y León (-13.9%) stood out.

The sale of homes in the Region falls

He The number of home sales decreased by 9.3% in the interannual rate in April in the Region of Murciathe most moderate drop by autonomous community, reaching 1,796 operations, while the average price per square meter stood at 1,004 euros, 2.7% more than in April 2022, according to data from the General Council of Notaries published this Wednesday.

By type of housing, Sales of flats in the Region fell by 5.2% year-on-yearto 1,182 units, while sales of single-family homes decreased by 16.1% year-on-year, to 614 units.

Apartment prices increased by 2.2% in the community last April compared to the same period in 2022, up to 995 euros per square meter, while the price of single-family homes stood at an average of 1,016 euros per square meter, with an increase of 3.4%.