Thursday 8 March 2018

2017 property sales and loan completions rise for year

December data.


INE data published end of February shows that both new purchases of Spanish homes and Spanish mortgage completions saw a healthy increase for the year of 2017 over 2016.

Mortgages in Spain

Mortgage levels increased for the year and were static in the month of December when looking at the same month of the previous year.

Whilst numbers of were exactly the same a small rise in average loan size over 2016 meant a little more capital was lent.

When looking at loan completions against November 2017 the preceding month there was a marked drop of over 20% less. This is the sharpest drop between these two months in 5 years but could just be a blip.

Interest rates


After a small Euribor increase in February, the Euribor has decreased for March.

Average interest rates were down on the same month of the previous year and fixed rates made up 37% of all new transactions. Fixed rate product types seem to have stabilised at these sort of levels.

A couple of banks in the Month of February increased their long term fixed rates this may adjust itself again in the coming days.

Regional performance


Fir the month the Canaries saw the biggest increases. Generally for the year areas attractive to Foreign buyers saw the greatest growth in both house sales and mortgage loan levels.


Despite increased activity the Spanish Banks still saw a net outflow of lending from their books during the year.

Read the full article:- Spanish year end overview on sales and lending

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