2023-09-30 06:30:38
The price of the housing in the regions of Girona it has climbed by 3.6% in the third quarter of the year compared to the same period last year, according to a study by the appraiser Tinsa. Compared to the second quarter of the year, the price of homes for sale has also grown, specifically by 1.8%. On average, the price per square meter is 1,740 euros.
These increases continue to affect properties for sale in Girona’s residential park, despite the fact that the signing of mortgages and the number of home sales is down in Girona. The latest available data, which correspond to the month of July, show how the signing of mortgages on homes fell by 23.5% during the month of July in the Girona regions compared to the same period last year and number of transactions for the sale of flats in the regions of Girona decreased by 16.9% in July.
The signing of mortgages in Girona fell by 23% year-on-year in July
This situation is not exclusive to Girona, but extends throughout Spain. A the State, the average value of new and used housing in the third quarter of the year has increased by 5% in an interannual rate and by 1.4% in a quarterly rate, as reflected by Tinsa. Residential prices, therefore, remain despite the contraction in sales that has been observed since the last quarter of 2022.
The purchase and sale of flats in Girona fell by 16% in July compared to a year ago
Price resistance
Among the factors that explain the resistance shown by prices, Tinsa highlights that housing continues to channel savings and that, although monetary policy is reducing the mortgage credit granted, there is no drop in demand. The appraiser expects residential demand to continue to moderate gradually towards the historical average, which, coupled with a limited housing supply, will keep prices in the stabilization zone for the rest of the year. Despite the increase in rates, the appraiser believes that the re-establishment of the purchasing power of households in the face of inflation and the good position of the Spanish residential market will prevent demand from collapsing while employment resists.
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