Catalonia has recorded a drop in home purchase prices that breaks with the upward trend of recent years. While we wait to see whether or not this is a trend, the Order of Notaries has observed that the cost per square meter decreased in July by 3.1% compared to the same month of the previous year, to 2,033 euros on average.
Unlike the average price in Spain, which increased by 2.8% in the same period, in Catalonia, as well as in other communities such as Navarra or La Rioja, a significant decrease was detected.
Regarding the number of sales and purchases, Catalonia follows the general trend in Spain and sees operations increase compared to 2023. Mortgages for the purchase of a home increased by 27.9% in July compared to the same month last year, still an increase of three points below that registered in the rest of the State (31.1%).
Specifically, in the seventh month of the year, 5,920 mortgages were registered to buy a flat, for an average amount of 168,816 euros. On the other hand, Catalan notaries point out that “the upward trend observed in the previous month” continues in the increase in sales, up to 11,132 in July, 21.7% more than a year ago.
The vice-dean of the Notarial College of Catalonia, Raquel Iglesias, said that the data “confirm that Catalonia is leaving behind the downward trend.” [en operaciones de compraventa] with which he started 2024, and remained until the end of 2022.
By type of housing, 8,806 apartment purchase and sale processes were carried out in Catalonia, 19.2% more than in July last year. In this case, the average price was 2,302 euros per square meter, with an annual decrease of 4%. On the other hand, a total of 2,326 single-family home transactions were recorded, 32.2% more than a year ago and with an average price of 1,569 euros per square meter.
Regarding company formations, the data provided by notaries indicate that during the month of July they increased by 14% year-on-year, reaching 2,110 operations. This double-digit increase contrasts with the decrease observed in June. On the contrary, the average capital of companies was 14,603 euros, 15.6% less than a year ago. Across the state, 9,737 companies were created, an increase of 9.4% year-on-year; and the capital fell by 13.4% to 16,186 euros.
