The sale and purchase of homes in the Canary Islands saw a 4.4% increase in September, while new mortgage loans in the region rose by 15.8%, according to data from the Statistical Information Centre of the Notaries. Across Spain, home sales increased by 12.5% year-on-year, with mortgage loans for home purchases showing a significant rise of 26%.
In total, 55,033 property transactions were completed nationally, with an average price of 1,757 euros per square metre, marking a 4.2% increase. Sales of flats were up by 11.4%, reaching 41,712 units, while single-family home sales grew by 16.2% to 13,321 units. Flat prices rose by 5.6% to an average of 1,990 euros per square metre, and single-family homes saw a 2.4% increase, with an average price of 1,356 euros per square metre.
Home sales increased in 16 of Spain’s autonomous communities, with the highest growth observed in the Basque Country (39.8%), Madrid (24.5%), and Castilla-La Mancha (23.3%). In contrast, Navarre was the only region to record a decrease, with a 4% decline in home sales.
Mortgage loans for home purchases rose in all autonomous communities, with Asturias (51.7%), the Basque Country (47%), and Castilla y León (41.9%) seeing the largest increases. The Canary Islands registered a rise of 15.8%, slightly below the national average.
Additionally, the percentage of home purchases financed by mortgages reached 46.9% across Spain, with the average mortgage covering 72.2% of the property price. The average mortgage loan amount also increased by 4.6% to 154,264 euros.
Meanwhile, company incorporations in Spain grew by 1.5% in September, reaching 8,637 new companies, although those with founding capital between 3,000 and 4,000 euros saw a slight decline of 0.8%.
