Last August banks gave 29.1% more mortgages than in August 2016 accordingly to INE. For the first time, the fixed rate mortgages were more than the 40% of given loans. More than 200,000 euros were given during the first 8 months of the year (so the mortgages granted have increased 12,9% this year). The average mortgage amount is 111,488 euros with a minimum interest rate.
The 12 month EURIBOR, reference index for most of the mortgages in Spain, has finished September in a -0.168%, which is the thirteen minimum historic consecutive. That means that the mortgages reviewed will decrease about 1% and experts do not dismiss that there are further descents before the year ends. It is important to know that it doesn´t affect only to the existent mortgages but also to the new ones. So it is expected a fast recovery on the sales.
Secretary-General of the Spanish developers association wish expects that the buiding activity continues increasing and he wishes that a demand of 120.000-130.000 new houses per year. He estimates new property licences for 85.000 homes which shows and important recovery of the Real Estate market
We are more than happy to inform to our clients and friends that our offices will be closed from the 5th of August until the 27th of August, both days included
The price of second-hand properties has increased 1.5% during the second quarter 2017. 10 Communities have increased second-hand property prices during the second quarter 2017. Balearic Island (16.6%), Cataluña (9.1%) and Canary Islands (8%) lead the list of Communities where the prices have increased more during last spring. Other Communites where the prices have increased are Valencian Community (4.6%), Andalucia (3%) and Madrid (2,7%). These data confirm the improvement of the...