RE Portals: Shortage in Credit to Blame For Slump in Mortgage Signing

27/02/2014 – Finanzas

Such well-known real estate portals as idealista.com, fotocasa.es and pisos.com claim that the abrupt fall in the number of new mortgages (-28%) shall be assigned to “credit drought” in Spain. (…) For example, Manuel Gandarias from pisos.com says that “there is no trace of recovery”, while Beatriz Toribio, spokeswoman from fotocosa.es reckons that “the overview may change drastically”.

Fernando Encinar (idealista.com) considers 2014 as “the year of renting” and that “many investors will turn their eyes on the Spanish property”. (…)

When it comes to housing prices, opinions differ. For instance, Encinar states that houses “will still be too expensive for the Spaniards”, whereas Gandarias assures: “there are great purchase opportunities on the market”.

Toribio praised the new banks´strategy on mortgage granting which, according to her, means prompt return of credits, let it be for few only.

The number of mortgages granted in 2013 was set at 197.641, that implies a drop-off by 27.8% in comparison with 2012.

 

 

Original article: Finanzas

Translation: AURA REE

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