A total of 281,328 mortgages were granted to Spanish property buyers in 2016, representing growth of 14% compared to the previous year, average loan capital increased 2.8%
Apartments with full rental management and resort services
The final years figures from the Spanish central statistics agency reveal the upward trend of mortgages granted in Spain continued in December 2016 with a 6.9% increase over the same month in 2015.
In total 20,747 new residential mortgages were granted to both foreign and domestic Spanish homebuyers in December, marking a 29th consecutive year on year increase over the course of the last 30 months, further evidence of a steady and sustainable Spanish property market recovery.
The data compiled by Spain’s property registrars also reveals that average loan capital in 2016 increased 2.8% on 2015, the average mortgage approved throughout the year was 109,759 Euros whilst December recorded an average 112,680 Euros.
All 17 of Spain’s regions recorded increased mortgage activity over the course of the year, signalling not only rising property prices, but also increased confidence amongst banks and lenders in both the Spanish economy and that of borrowers.