Housing Foreclosures Fell by 13% in 2015

The number of foreclosures initiated on primary residences in Spain amounted to a total of 30,334 in 2015, which represents a reduction of 13% compared to the figure for 2014, according to the latest foreclosure statistics published last week by the National Statistics Institute.

El Economista reported that the latest figure also indicates a change in trend since the number of housing foreclosures initiated in 2014 increased by 8%.

In the fourth quarter of 2015, a total of 6,898 foreclosures were initiated on regular homes, which is 15.7% more than in the previous quarter, but 23% less than the number registered in the fourth quarter of 2014.

The Institute stresses that not all mortgage foreclosures end up with the eviction of the owners, and that the main objective of this statistic is to provide, on a quarterly basis, the number of foreclosures initiated and registered in the Property Registers during the period of reference.

In 2015 a total of 101,820 foreclosures were initiated, which is 15.5% less than the total initiated in 2014. Of those, some 96,760 related to urban properties (including dwellings) and 5,060 related to rustic properties.

Andalucía was the region which registered most housing foreclosures in 2015, with a total amounting to 16,094, followed by Catalonia (11,165) and Valencia (10,751), while the regions with the least number of housing foreclosures initiated last year were La Rioja (272), the Basque Country (300) and Navarra (338).

Of all the foreclosures initiated in 2015, once again Andalucía was the region which registered the greatest number, with 28,126, followed by Valencia (17,548) and Catalonia (16,548), while in contrast, the regions to register the least foreclosures were La Rioja (539), Navarra (566) and the Basque Country (625).

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