News The number of people taking out mortgages increased by 20.2% in September.
September was a good month for mortgages. 23,828 mortgage loans for home purchases in Spain were taken out, representing an increase of 20.2% over the same month last year, according to statistics published today by the National Statistics Institute (INE). This was the 16th consecutive month showing an increase. More loans and higher amounts.
The increases that are being recorded on mortgage lending and purchases is a reflection of market growth proving it is a good time to buy a house. The reduction of the price of housing, especially in resale, availability of credit and competitiveness between banks to offer the best mortgage deals have revived the real estate market.
After three years of drought in the building industry, we are now seeing growth in this sector of 30.6% year on year.
Daily “El País”, 30/11/2015