The number of home mortgages in Catalonia grew by 47.1% in January compared to the previous month

Madrid (ACN).- The number of home mortgages signed in January in Catalonia ammounted to 3,751 contracts, an increase of 47.10% compared to the December figures, according to the Spanish Statistics Institute (INE). At the end of 2012, the fiscal benefits for purchasing houses were diminishing and were non-existent by January. Despite this fact, there was a peak in the number of mortgage loans hired. However, the January figure is still below that of January last year, when they had grown by 47.61%, according to INE data. For the whole of Spain, the number of mortgage loan contracts signed in January reached 25,447, an increase of 44.7% in relation to December. According to the INE’s historical data – which started in 2003 – it is the highest monthly increase since January 2007. In annual terms, the number of mortgages signed in Catalonia in January 2013 was 18.58% lower than those signed in January 2012. Furthermore, in the whole of Spain, it was 12.75% lower.

The average of the 3,751 home mortgages signed in Catalonia in January was €110,418, an increase of 7.92% increase to those from December. Such a significant price increase has not been registered since January 2011, when the average mortgage price increased by 10.78%. While in Catalonia the average mortgage price was €110,418, the Spanish average was €102,906, representing a 1.2% increase from last December.

Looking at the four Catalan provinces, in Barcelona – in which two thirds of Catalonia’s population is concentrated – 2,624 contracts were signed, representing 48.33% compared to December. There has not been such a high increase in the Province of Barcelona since September 2009, when the number of mortgages signed increased by 53.34% compared to the previous month. The average price of Barcelona’s mortgages signed in January was €114,747, the highest price in Catalonia. In annual terms, the number of mortgages in the Barcelona Province fell by 13.74% in January 2013 compared to the same month in 2012.

In Girona Province, in north-eastern Catalonia – where the Costa Brava is located –, 505 home mortgages were signed in January, a 45.11% increase compared to the December figures. However the highest monthly increase was registered in May 2012, with a 70.10% growth on the previous month. In Girona, the average price of a mortgage was €108,796. Looking at the annual terms, the number of mortgages dropped by 29.47% in January 2013 in Girona compared to January 2012.

In the Province of Lleida, in western Catalonia, 181 home mortgages were signed in January, 18.3% more than in December. However, 44.34% more mortgages had been signed in December compared to November. The average price of the mortgages signed in Lleida in January was €91,039, the highest price since April 2012. Regarding the annual variation, there was a 9.5% drop in January 2013 in Lleida in the number of home mortgages signed compared to the same month in 2012.

Finally, in the Tarragona Province, in southern Catalonia, the number of home mortgages signed in January reached 441 contracts, 57.5% more than in December last year. In October, the increase from the previous month represented 61.52%. The average price of the mortgages signed in Tarragona was €94,469. The Province of Tarragona was no exception and in fact registered the most severe annual drop in the number of home mortgages; in January 2013 32.5% fewer contracts were signed than in January 2012.