MADRID: Data published this Tuesday by Spain’s central statistics unit show that 21,298 mortgage loans were constituted on residential property in February, an increase of 29.2% compared to the same month last year Spanish mortgage figures continue to rise as the property market recovers and a further indication that the banks in Spain are playing an active role in the increase of demand in the real estate market as a whole.
This change was especially noticeable in February in the region of Aragón, where 89% more mortgages were registered in February this year than in the same month in 2014, and other significant increases were seen in the Basque Country (59.5%) and Andalucía (42.9%).
When analyzing these data it is important to recognize that while mortgage activity is on the increase in Spain it is still nowhere near the frenetic level it reached at the height of the speculative boom in 2006 and 2007: during those years monthly totals of 100,000 mortgages were common and the average loan capital rose above 150,000 euros.
