another pointless thumbnail (6)

Spanish Mortgages +11% in 2024

by
with 11 comments
News

Spanish mortgage market shows 11.2% growth in 2024, with 423,761 new home loans registered, according to Spain’s National Statistics Institute (INE).
Key findings from INE’s annual mortgage data:

  • Total mortgage value reached €61.73 billion, up 14.2% from 2023
  • Average mortgage amount increased 2.7% to €145,673
  • Fixed-rate mortgages dominated the market, representing 63.4% of loans in December 2024
  • Average interest rate stood at 3.25% in December 2024, slightly lower than December 2023’s 3.33%
  • Average loan term was 25 years

Regional data shows growth across all autonomous communities, with Galicia leading at 26.6% increase, followed by Navarra at 21.2%. Madrid recorded 10.4% growth, while Catalonia saw a 12.2% increase.
The December 2024 data showed 32,249 new mortgages, marking a 30% increase compared to December 2023. This represents the sixth consecutive month of growth, according to INE.
This recovery follows a 17.9% decline in 2023, though total numbers remain below 2022’s peak of 464,000 mortgages. Interest rates have remained above 3% for 20 consecutive months, INE reports.

For context, in 2006 there were 1,342,171 mortgages issued in Spain. We all know what happened next…

 

Source of INE data via Idealista 

Tags: No tags

Alfredo Bloy‑Dawson is a seasoned real estate marketing consultant based in Marbella, Spain. Drawing on over a decade of experience, including seven years as Marketing Director at a leading Spanish real estate marketing agency, he now collaborates with top-tier real estate agencies, property developers, and property portals across Spain -most notably on the Costa del Sol - to craft marketing strategies..

    11 Responses

    Leave A Comment

    Your email address will not be published. Required fields are marked *