Housing Mortgages Increased by 34.1% Y-o-Y in May

Posted on August 1, 2016 in Property

According to the latest mortgage statistics published last week by the National Statistics Institute, originating from transactions carried out in previous months, the number of new mortgages constituted on homes listed in the property registers in Spain stood at a total of 26,579 in May, which represents an increase of 34.1% over the same month of 2015 and is also the highest figure registered since January 2012.

The year-on-year rise in May, with which mortgaged homes accumulated 24 consecutive months of increases, is almost 10 points higher than the figure recorded in April, when the number of new mortgages on homes rose by 24.6%.

The average value of the mortgages constituted on housing in May reached 104,480 euros, which is 0.8% less than in the same month of 2015, while the capital loaned increased by 33.1% year-on-year, to over 2,776 million euros.

In the first five months of the year, the constitution of new mortgages on homes accumulated an increase of 19.7%, with the amount of capital loaned rising by 21.4% and the average loan amount increasing by 1.4%.

The Institute’s data shows that the regions which recorded the greatest number of new mortgages constituted on housing in May were Andalucía (4,916), Catalonia (4,495) and Madrid (4,366), while the regions which recorded the highest year-on-year growth rate for home mortgages were the Balearic Islands (+66.9%), the Basque Country (+51.6%) and Castilla-La Mancha (+47.7%).

Moreover, the regions where more capital was loaned for the constitution of mortgages on homes were Madrid (620.8 million euros), Catalonia (505.1 million) and Andalucía (466.1 million).