The purchase of homes marks its best record in 15 years due to the turn of the ECB


The turn of the helm of the European Central Bank and the rate hikes that it has been applying since July have boosted purchase and sale operations by 6.7% to 57,333 operations, the highest figure for that month since 2007, just before the housing bubble burst. Buyers bring forward their decisions to try to avoid a greater increase in financing costs (the 12-month Euribor dismissed September at 2.233% and the monthly average for November is around 2.7%).

According to the data made public this Friday by the National Institute of Statistics (INE), with the year-on-year advance in September, the sale of homes chains 19 consecutive months of positive rates. However, the growth of operations has moderated eight points with respect to the year-on-year rise in August, when home sales increased by 14.9%.

New home purchases fall

The year-on-year increase in home sales in September was a consequence of the 10.7% increase in operations on used homes, up to 47,279 salessince operations on new flats decreased by 7.8% year-on-year, reaching a total figure of 10,054 transactions.

92.4% of the homes transferred by sale in the ninth month of the year were free homes and 7.6% were protected. The sale of private homes rose 7.4% year-on-year in September, to 52,968 operations, while that of protected ones advanced 1.4%, totaling 4,365 operations.

In monthly terms (September over August), the purchase and sale of homes did not experience variation, since in August 57,327 operations were carried out, almost the same as in September (57,333). In the first nine months of the year, the sale of homes has increased by 18.3%, with increases of 21.3% in the case of second-hand homes and 6.6% in new homes.


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