The sale of housing registered in 2024 an increase of 10% compared to the previous year, up to a total of 641,919 operationsits second largest figure since 2007 after the one registered in 2022, as reported on Thursday the National Statistics Institute (INE).
Thus, the market recovery is confirmed after a 2023 in which it broke with two years in a row and collapsed 10.2%. The poor result of this exercise is explained by the policy of high types that then applied the European Central Bank (ECB), in a context of rampant inflation. Correlatively, the recovery of 2024 followed the relaxation of monetary policy decided last summer by the agency presided by Christine Lagarde.
In June 2024, the ECB began the decreases of types after having maintained the reference – deposit fundamentals – at 4.25% for a year. The reductions carried out that month and in the final stretch of the year (October, November and December) ended up leaving the main type in 3%. This threw down from the Euribor, which is the index that is used as a reference for mortgages in Spain and encouraged the market. In fact, after nine months down -the Euribor tends to anticipate the decreases of types -, this indicator closed December in minimums not seen since 2022, around 2.43%.
This resulted in the real estate market, which with the good data of December 2024 put the icing six months of increases in interannual terms: July (+19%), August (0.9%), September (+41,5 ), October (+51.3%), November (+15%) and December (37.7%).
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