The sale of homes grew by 6.1% in the whole of 2022 to reach 719,680 units, the highest figure in 15 years, while prices rose by 7.2% compared to a year earlier to 1,615 euros per unit. square meter, according to data from the General Council of Notaries.
In addition, the granting of new mortgage loans to purchase a home rose 2.8% year-on-year in 2022, according to the data handled by these professionals based on operations signed before a notary.
The highest number in 15 years
The purchase of homes touched 720,000 units in 2022, which is its best data in 15 years after growing more than 6%. By type of home, sales of flats increased by 7.8% to 548,631 operations, while single-family homes advanced only 0.7% to 171,049 units. The purchase and sale of homes grew in 14 autonomous regions, which accounted for 85% of the transactions.
The rise was double digits in the Canary Islands (26.9%) and the Valencian Community (14%). The increases in the Balearic Islands (7.4%) were also notable; Asturias (6.6%); Murcia (6.6%); Aragon (5.9%); Catalonia (5.4%) and Andalusia (5.4%). On the contrary, transactions fell in 2022 in Cantabria (-3.8%), Madrid (-1.1%) and La Rioja (-1%).
Madrid leads price increases with 12%
In 2022 the price of housing increased by 7.2% compared to 2021. In the case of flats, this increase moderated to 3.6% and reached 1,701 euros/square meter, while in single-family homes the growth it was 10.2% up to 1,195 euros/square meter.
All the communities registered an increase in the price with the exception of Castilla-La Mancha, where it fell by 1.6%.
The greatest increases were those of Madrid (12.2%); Murcia (11%); Canary Islands (10.4%) and the Valencian Community (10.3%).
Prices per square meter exceeded the national average of 1,615 euros in the Balearic Islands (3,200 euros); Madrid (2,657 euros); Basque Country (2,505 euros); Catalonia (1,980 euros) and the Canary Islands (1,771 euros).
Mortgages and their amount grow
New mortgage loans to purchase a home grew by 2.8% in 2022 to 355,470 operations and their average amount rose by 3.8% per year, standing at 153,357 euros.
In addition, 106,484 operations were signed for other purposes (5.9%), so that the total number of new mortgage loans reached 461,953 in 2022, 3.5% more.
The amount of the new loans to buy a home ranged from 234,521 euros in the Balearic Islands to 94,791 euros in Murcia.
Collapse of sales and mortgages in December
In a context of more expensive financing due to the rise in interest rates to cope with rising inflation, home sales plunged 17.8% in December to reach 59,730 units and the granting of mortgage loans plummeted 22.5%.
The greatest decreases in sales occurred in the Balearic Islands (-31.6%); Cantabria (-28.5%); Castilla-La Mancha (-26.3%); Andalusia (-23.8%); Madrid (-20.5%) and Castilla y León (-18.3%). Regarding the price, in December the rise slowed to 0.5% to 1,590 euros/square meter.
Market cooling throughout the year
According to notaries, the recovery of activity and prices remained dynamic in 2022, although at lower rates than in 2021, influenced by the anomalous financial year 2020 due to the impact of the health and economic crisis. However, one of the trends of the year has been the gradual cooling of the market.
In fact, sales went from growing by 22.8% year-on-year in the first quarter of 2022 to falling by 10.6% in the fourth quarter, in a context marked by the rise in interest rates. As regards the price, the increases moderated from 11% in the first quarter of the year and to 3.5% in the last, even standing very close to 0% in December.