Mortgage granting hits a 12 year high

The number of housing loans  signed in Spain increased by 24.1% last November.

With the end of the sixth wave of the coronavirus pandemic finally in sight, the global economy is strengthening day by day and nowhere is this more evident than in the property market in Spain, which has been improving in leaps and bounds. 

The number of mortgages approved in Spain increased by 24.1% year-on-year last November, making this the strongest month since 2010. A total of 36,220 home loans were signed, according to latest data released by the National Institute of Statistics (INE).

These figures reflect the impressive rebound of the Spanish real estate sector, which closed out last year with some 400,000 loans, making 2021 “the best mortgage year of the last decade” according to the experts. 

November’s figures follow nine months of consecutive increases. The average amount of home mortgages sought jumped by a substantial 1.5% to 138,189 euros, while the capital granted also grew by 26% to 5,005 million euros. The majority of the loans were granted in Andalucía (7,583), Catalonia (6,222) and the Community of Madrid (5,682).

Original Story: : Spanish News Today| News 
Photo: Big Stock Photo
Edition: Prime Yield