The third quarter of 2024 has marked a dynamic and positive period for the real estate market in Catalonia, according to the latest sector report. During this quarter, 25,682 home sales were recorded, an increase of 16.4% compared to the previous quarter and 18.8% year-on-year. These figures break with the downward trend of previous quarters and position this period as one of the best in the last 17 years.
The average price per square metre is also on the rise, standing at 2,515 euros, representing a quarterly increase of 1.5% and a year-on-year increase of 3.5%. This increase is reflected in both the new and used housing markets, with a year-on-year growth of 43.5% in new home sales.
On the other hand, foreign demand continues to consolidate itself as a key pillar, reaching historic highs in absolute and percentage terms, with 16.8% of purchases made by non-residents. Girona leads this segment with 26.8% of transactions.
As for the rental market, prices remain at record highs, with an average rent of 823 euros. However, supply remains limited, making it difficult to change the trend in the short term.
The socio-economic context has played a crucial role in this recovery, with year-on-year GDP growth of 3.8%, inflation moderate at 1.7%, and unemployment close to historic lows (8.8%). In addition, the reduction in interest rates by the ECB has favoured mortgage financing conditions, boosting activity in the sector.
The report highlights the dynamism of the Catalan real estate market, which continues to show signs of strength in a favourable economic environment.
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