Mortgages plummeted by 31.6% in the BAG and by 38.2% in Navarre, compared to the same month of the previous year, in a context marked by the increase in interest rates.
The home sales fell in the Basque Autonomous Community 25.6% in August compared to the same month of 2022 and the mortgages they collapsed a 31.6%in a context characterized by the increase in interest rates to halt inflation and the increase in financing costs.
This is evident from the statistics published on Thursday by the General Council of Notaries, which show that despite the significant decline in turnover, prices rose by 3.1 % year on year.
Also the number loans granted to buy houses, 574is down 31.6% compared to August 2022, a decline greater than the state average (26.8%).
On the other hand, prices have increased 2643 euros per square meterthe second most expensive autonomous community, after the Balearic Islands, after a year-on-year increase of 3.1%.
Decrease of more than 28% in Navarre
Navarre, with a decrease of 28.1%is the second autonomous community where house sales fell the most in August and the one that records the highest decrease in mortgages (-38.2%).
At the state level, home sales fell 17.3% in August, while mortgage originations for home purchases fell even further, by 26.8%.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
