«NEW HISTORICAL MAXIMUM IN THE AVERAGE HOUSING PRICE IN SPAIN»

The average house price in Spain has reached a new historical high in the last quarter of 2024, up to 12.5% ​​above the maximum levels of 2007, after having registered a quarterly growth of 1.71% and having accumulated five consecutive quarters of increases, all based on the housing price index for sale of the Real Estate Registry Statistics prepared by the College of Registrars.

The analysis has revealed that the average price was 2,164 euros per square meter, which represented an increase of 2.4% compared to the previous quarter, and that in the case of “used” housing it implied an increase of 1.6%, while the increase in new housing was 3.7%.

Madrid, the Balearic Islands and the Basque Country exceed housing prices above 3,000 euros/m2 on average.

For their part, sales close the year with more than 636,000 operations (9.2%) and close to the figures for 2022

Among registered sales and purchases, between October and December, a quarterly increase of 3.6% was recorded, reaching 172,551 operations, the highest level since the third quarter of 2007.

On the other hand, the proportion occupied by foreign demand for housing decreased slightly during the last quarter of 2024, despite increasing in absolute terms.

Specifically, the percentage of home purchases by foreigners was 14.48%, with a quarterly decrease of 0.37%, remaining in the high range of the historical series.

Almost 70% of home purchases in 2024 were financed with a mortgage

In turn, the number of home mortgages registered in the fourth quarter of 2024 was 123,897, with a quarterly increase of 13.4%, favored by the increase, also quarterly, in the number of home sales.