Posted on July 1, 2016 in Property

According to the latest mortgage statistics published by the National Statistics Institute, the Spanish mortgage market is continuing to recover as, in April, the number of new mortgage loans granted for the purchase of a home registered an increase of 24.6%, over the same month of 2015, to reach a total of 23,607 transactions.

This significant year-on-year rise, with which home mortgages accumulated 23 consecutive months of increases, is 10 points higher than the figure recorded in March, when it rose by 14.5%.

The average value of the mortgages constituted on housing in Spain in April reached 108,354 euros, which is 5.1% more than in the same month of last year, while the total capital loaned increased by 30.9%, year-on-year, to over 2,557 million euros.

Month-on-month (April over March), the number of new mortgages on homes rose by 2.7%, representing its largest rise in this month since 2013, while the capital loaned rose by 3.2%, also its largest increase since 2013. In the first four months of 2016, the market accumulated an increase of 16.2%, with increases of 18.6% in the capital loaned, and of 2% in the average loan value.

In April, the regions which registered the largest number of new mortgages on homes were Andalucía (4,442), Catalonia (4,030) and Madrid (3,665), while the regions with the highest year-on-year increases in the number of home mortgages constituted were Cantabria (74.7%), Castilla-La Mancha (66.7%) and Extremadura (52.6%). The only decline recorded was for the Canary Islands (-0.6%).

Moreover, according to the Institute’s data, the regions where most capital was loaned for the constitution of home mortgages in April were Madrid (575.1 million euros), Catalonia (489.3 million) and Andalucía (410.5 million).