MADRID: The number of home mortgages granted to prospective buyers in Spain increased by 15.9 percent in February 2016 when compared with February 2015, according to data published by Spain’s Statistical Office (INE) here the other day.
According to the INE, a total of 24,887 home mortgages were granted in the second month of the year, with the amount of capital loaned rising by 14.4 percent year-on-year to 2.70 billion euros (3.05 billion U.S. dollars) and the average value per mortgage falling by 1.3 percent to 108,466 euros.
Meanwhile, on a month-to-month basis, the INE said the number of mortgages rose by 6.9 percent from January to February with the capital loaned increasing by 9.7 percent.
Spain’s housing market has been seriously affected by the burst of the housing bubble that triggered the financial crisis. In 2008, 2011 and 2012, home mortgages fell by more than 32 percent. The first time they grew was in 2014.
So far, Spain’s home mortgages have been rising for 21 consecutive months year-on-year.
