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Catalonia Real Estate Market Report – 4Q 2024

The fourth quarter 2024 report on the real estate market in Catalonia reflects the consolidation of the sector's recovery, driven mainly by improved mortgage conditions, strong demand and economic stability. 26,751 home sales were recorded, representing a quarterly growth of 4.2% and a significant year-on-year increase of 30.5%, reaching levels close to the highest levels of the last seventeen years.

Second-hand housing led the market with 79.76% of all sales, while new housing accounted for 20.24%, with a notable increase in new free-market housing. The average price per square metre was €2,547, with a quarterly increase of 1.3% and a year-on-year increase of 4.1%, with the province of Barcelona being the most expensive at €2,923/m².

As for the rental market, demand continues to outstrip supply, causing prices to rise and reaching an average rent of €839. The mortgage market benefited from the drop in interest rates, which favoured the granting of mortgages, with 68,667 transactions in the last twelve months and an average debt of €164,495.

The socio-economic environment showed positive signs: the unemployment rate fell to 7.9%, wages grew by 5.8%, and the population increased by more than 105,000 inhabitants. The forecast for 2025 is optimistic, with expectations of sustained growth in real estate activity and moderate prices, driven by local and international demand.

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