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Mortgages increase 35% in number in Catalonia in March; 11th consecutive month of growth

The number of mortgages on homes in Catalonia increased by 35.1% in March compared to figures from March 2014, data from the Spanish Statistics Institute (INE) show, with a total 3,229 mortgages approved. This yearly increase strengthens an uninterrupted trend of 11 consecutive months of annual growth, following 44 months of uninterrupted decline. In Spain as a whole, a 19.71% annual increase in March on figures from March 2014 was registered and 19,806 mortgages on houses and flats were granted. These figures represent the 10th consecutive month of annual growth at Spanish level. In all the Catalan Provinces, an annual increase was also recorded: Lleida came top with a 76% increase, followed by Barcelona (35%), Tarragona (28%) and Girona (22%).

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27 May 2015 09:42 PM

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ACN

Barcelona (ACN).- The number of mortgages on homes in Catalonia increased by 35.10% in March compared to figures from March 2014, data from the Spanish Statistics Institute (INE) show, with a total 3,229 mortgages approved. This yearly increase strengthens an uninterrupted trend of 11 consecutive months of annual growth, following 44 months of uninterrupted decline. In Spain as a whole, a 19.71% annual increase in March on figures from March 2014 was registered and 19,806 mortgages on houses and flats were granted. These figures represent the 10th consecutive month of annual growth at Spanish level. In all the Catalan Provinces, an annual increase was also recorded: Lleida came top with a 76% increase, followed by Barcelona (35%), Tarragona (28%) and Girona (22%). The figures of the mortgage market are particularly encouraging as the crash of the construction and real estate sectors, as well as a lack of bank loans, were at the heart of the economic crisis that hit Catalonia and the rest of Spain between 2008 and 2014. They are yet another sign of a slow economic recovery, the effects of which on unemployment and many other aspects still need time to be seen.


The average amount of a mortgage in Catalonia was €116,871 this March, representing a 0.88% increase on 2014 figures. In total, around €377 million worth of mortgages was taken out. In Spain as a whole, the average mortgage value was €101,989 in March, representing a slight 0.3% annual increase. The total amount of mortgages granted was €2.02 billion.

Lleida and Barcelona lead the way, all Catalan Provinces above the Spanish average

In the Province of Barcelona, where more than two-thirds of the Catalan population live, the number of mortgages grew by 35.11% in March and the average mortgage was €127,143, a 1.56% increase compared to last year. Barcelona now accumulates 11 consecutive months of annual growth.

In the Province of Girona (in north-eastern Catalonia, where the Costa Brava is located), the number of mortgages grew by 22.02% and the amount of each was €100,890 on average, a 5.89% increase on last year's figures. Girona only accumulates two consecutive months of annual growth.

In Lleida Province, mortgages increased in number by an extraordinary 75.93%, and their average amount was €80,674, a 2.45% decrease on 2014 figures. Like Girona, Lleida now also accumulates two consecutive months of annual growth.

Finally, in the Province of Tarragona, in southern Catalonia (where the Costa Daurada is located), the number of mortgages grew by 27.8% and the average amount was €85,263, a 2.51% increase compared to the same period last year. Tarragona has now accumulated four consecutive months of mortgages increasing in number.

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