Home sales increased 34.5% in 2021, according to the College of Registrars

Housing use transactions ended last year with 452,005 sales, up 34.6% year-on-year, and new housing registered 112,564 operations, 34% more than at the end of 2020.

The average price paid for a house in 2021 was 179,887 euros, although four autonomous communities exceeded the national average. The Balearic Islands dominate independence with prices above the Spanish average, with outlays of more than 311,000 euros per dwelling.

In Madrid, the price of housing fluctuated around 291,000 euros, while in the Basque Country the average was around 246,700 euros. Catalonia was also above the national average in 2021, with the price of housing at around 212,145 euros.

The cheapest communities in Spain were Extremadura, where housing cost an average of 81,102 euros, Castilla-La Mancha, with prices of around 97,465 euros, and Murcia, over 102,000 euros, according to data from the College of Registrars.

During 2021, the trend that began during the pandemic was maintained, with the owners searching for larger surfaces. Last year’s sales of more than 80 square meters accounted for 52.5% of sales, compared to 52.2% in 2020.

Apartments between 60 and 80 square meters accounted for 28.1% of these operations, while those with surfaces between 40 and 60 square meters accounted for 16.2% of the total. The program also shows that 3.3% of the apartments covered an area of ​​less than 40 square meters.

COME TO FOREIGN DEMAND

Foreigners only bought 10.8% of homes in 2021, down from 11.3% in 2020. In this way, a five-year reduction in the relative weight of this group has accumulated. However, they explain from the College of Registrars that this return does not correspond to “a reduction in the total number of purchases made by foreigners”, but to the “significant growth of operations at the national level”.

The Balearic Islands, 32.7%, are the Canary Islands, 23.7%, the Valentia Community, 20.8%, and Murcia with 16.9%.

A disbursement of equal to or greater than 500,000 euros was required for 9% of foreign home purchases.

In addition, the non-EU buyer, accounting for 40.5% of total foreigners, is growing, compared to 34.3% in 2020.

By nationality, the United Kingdom is the majority of foreigners, whose citizens choose homes in Andalusia, Murcia and the Valentia Community, specifically Alicante.

The Germans, another of the most popular nationalities, choose to buy a place to live in the Balearic and Canary Islands; and the Italians prefer Barcelona and the Portuguese, Galicia.

In the inland provinces, Romanians make the most of their purchases, with Morocco being the majority of merchants in Andalucía, Extremadura and some areas in northern Spain.

16 YEARS AND 5 MONTHS, AVERAGE HOLDING PERIOD

The average homeownership period in Spain in 2021 was 16 years and five months, an increase of 4.9% which puts the figure at the maximum of the historical series. In 2009, that figure was 7 years and 4 months.

In terms of mortgage composition, the program includes a 22.5% increase, up to 416,958 housing mortgage registrations. The largest increase occurred in Murcia, with an increase of 41.2%, followed by the 30.5% observed in Castilla-La Mancha. Only in the Balearic Islands, the mortgage constitution fell by 6.3%.

Mortgage formalization of foreigner housing remained at 5.5%, the same as the previous year, with 22,903 registrations in 2021. The average foreign mortgage in 2021 was 159,847 euros, an increase of 12, 1% compared to the 2020.

The average interest rate in 2021 was 2.0% and the average contract term was 24 years and 7 months. The average mortgage payment for housing in 2021 was 595 euros, four euros more than the previous year.