26/02/2014 – Expansion
The slump in mortgage granting registered in 2013 is ought to be added to the six previous years of decrease. It has toned down in regard to the year 2012 (-33%). In 2011 it diminished by 32.8%, in 2010 by 6.7%, in 2009 by 22%, in 2008 by 32% and in 2007 by 6.7%.
The year 2013 said good bye to tax benefits that was reflected in the record low number of mortgages granted (197.641). In constrast, in 2009 and 2010 more than 600.000 mortgages have been signed per year.
Average mortgage amount went down by 3.5% in 2013 to €99.838, while the borrowed capital reduced by 30.3% throughout the year to €19.732 million (signed for 197.641 houses).
Considering December solely, overall amount of the granted mortgages was €106.290 that is 0.1% less than a year before. When it comes to dwellings they obtained 12.329 mortgages that is 30.1% less than in December 2012. Average amount marked €101.494 that is 0.9% smaller compared to the previous year.
Mean interest rate was set at 4.37%.
The number of mortgages with introduced amendments in December posted 20.217 that is by 10.6% more than a year before. In case of mortgages the increase was of 7.1%. Andalusia with 2.155, the Community of Madrid with 1.914 and Catalonia with 1.564 were the autonomous communities with the highest mortgage signing rates. The only community showing positive annual rate variation was La Rioja with 22.9%.
Talking about borrowed capital, the communities with the best scores were Madrid (€293.6 million), Andalusia (€189.2 million) and Catalonia (€164.6 million).
Original article: Expansión (EP)
Translation: AURA REE