According to the last data of the National statistics Institute (INE), the amount of mortgage loans issued in Spain for buying residential property has been drastically increased. Last November banks issued 25 413 such loans and it is 32,2 % more than in 2015. This index is keep increasing during four months in a row, started in August, when it was 6,4 % and in October it has reached 16,8%.
The average loan mount for buying the real estate property is €109 785. It is 1,8% more than last year. Taking this into account, the annual percentage rate for this period is decreased from 3,26% to 3,22%. In most cases (68,2%) it is not fixed, but floating and depends on European interbank clearing rate (Euribor), which decreased to -0,094% in January 2017.
The mortgage loans are most popular in Andalusia (4760 loans), Community of Madrid (4636 loans) and Catalonia (3562 loans). All these communities are the leaders for the amount of funds, which have been allocated by individuals for buying residential property. The amount of allocated funds are the following: Madrid -€712,5 mln., Andalusia - €458,2 mln. and Catalonia - €452,6 mln.