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HomeLatest NewsThe purchase of housing resists the rise in rates: it rises 22%...

The purchase of housing resists the rise in rates: it rises 22% compared to 2019

Date: December 10, 2023 Time: 23:31:55

The Property Rights Transfer Statistics (ETDP) published this Friday by the INE reflects positive data for the real estate sector during most of 2022. Until November, home sales totaled 606,124, which constitutes a 22.35% more than the data registered in the same period of 2019, before the coronavirus crisis and the effects of the war in Ukraine. So, only 470,632 were sold, a figure that was also surpassed in 2021 and is beaten again. The specific result of this month is also positive in the year-on-year comparison, given that the sale of registered homes increased by 10.8% compared to this period of 2021.

Therefore, November has marked the best result since the same month of 2007, when the sales figure exceeded 56,100 exchanges. In addition, it adds 21 consecutive months of positive rates, despite the fact that growth has slowed down by six tenths compared to October. This data is especially positive after the banking normalization dictated by the European Central Bank, which months ago launched a rate hike policy, which its president, Christine Lagarde, has already guaranteed will continue until inflation is below below 2%. This change has a direct impact on citizens’ mortgages, which makes this growth significant.

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Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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