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Spanish mortgage market grew by 14 per cent in 2016

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The average loan capital in Spain increased by 2.8 per cent last year. The upward trend in the number of mortgages being extended to residential property purchasers in Spain continued during December 2016, with the monthly total of 20,747 representing an increase of 6.9% over the last month of the year before.

This was the 29th year-on-year increase in the last 30 months, and the overall total for 2016 was 14% higher than that of 2015 at 281,328, according to the figures published by the government’s central statistics unit on Tuesday. During the year there was increased mortgage activity in all 17 of Spain’s regions, the most significant upward movements being those reported in Castilla-La Mancha (23.8%), Aragón (19.3%) and Extremadura (18.7%).

At the same time, the data compiled by the country’s property registrars show that the average loan capital on property mortgages rose last year by 2.8% to 109,759€, and that in December the figure was higher still at 112,680€.

Source: Spanish News Today. Feb. 2017

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