Sales of real estate units and loans – Q4 2023

In the fourth quarter of 2023 the notary agreements regarding sales of real estate units and any other kind of exchange of properties and appurtenances in return for payment amounted to 277,415. The percentage change, calculated on seasonally adjusted data, was +3.4% compared with previous quarter, and the percentage change on an annual basis, calculated on no-seasonally adjusted data, was +0.5%.

Compared with the previous quarter, the residential sector increased across the Country: Centre +5.9%, Islands +4.7%, South +4.0%  North-West +2.9% and North-East +2.6%. The economic sector increased in the Islands (+6.9%) South (+6.0%); it decreased in North-East (-6.5%), Centre (-4.0%) and North-West  (-1.5%).

93.3% of the notary agreements concerned transfers of residential properties (258,816), 6.3% affected transfers of properties for business purposes (17,548) and 0.4% estates for special uses and multi-owned properties (1,051).

Compared with the fourth quarter of 2022, real estate unit exchange agreements decreased by 0.3% in the residential sector and they increased by 12.6% in the economic sector.

At a territorial level, the housing sector marked, on an annual basis, negative percentage changes in the North-East -2.1%, South -1.7% and North-West -1.0% and positive percentage changes in the Islands +8.3% and in the Centre +0.5%. The economic sector rose across the whole territory: Islands (+17.0%), North-East (+16.0%), North-West (+13.2%), Centre (+12.3%) and South (+5.8%). In the residential sector, the sales of real estate units decreased in small cities (-1.2%) and increased in large cities (+0.9%). In the economic sector, they increased in both small and large cities, respectively +12.8% and +12.2%.

The mortgage-secured loans amounted to 84,319. The percentage change, calculated on seasonally adjusted data, was +0.8% compared with previous quarter, while the percentage change on an annual basis, calculated on no-seasonally adjusted data, was -14.5%. Compared with the previous quarter, the whole territory rose (North-West +1.6%, Islands +1.4%, North-East +1.2%, Centre +0.8%), with exception of the South (-2.5%). On the contrary, compared with the IV quarter of the 2022, the mortgage-secured loans declined in all geographical areas of the Country (North-West and North-East, both -15.2%, South -15.0%, Centre -14.5% and Islands -6.6%), and in small and in large cities (respectively -15.1% and -13.7%).