Mortgage Signings In Spain Soar In September And Hit Decade Highs With 42,547 Loans For Home Purchases

Spain property

Alphavalue | The average price of used housing in Spain rose by +0.8% month-on-month in November to 1,831 euros/m2, according to Idealista’s latest real estate price index. In the major capitals, the price increased by +0.3% in Barcelona and fell by the same amount in Madrid (-0.3%) compared to the previous month. If we look at the year-on-year figure, the national average price has increased by +3.5%: housing in the Balearic and Canary Islands is at an all-time high since idealista started keeping records in 2006.

On the other hand, mortgage signings soared in September and hit decade highs. In the ninth month of the year, 42,547 loans for the purchase of housing were registered in the registers, almost 58% more year-on-year, and the highest figure since March 2011, according to the National Institute of Statistics. Between January and September, more than 290,000 mortgages were signed in Spain, 23% more than during the pandemic year. Fixed-rate mortgages continue to account for two-thirds of new transactions, while the average mortgage interest rate remains at an all-time low.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.