Posted by mmmadmin on Nov 13, 2016 in News
According to data published this week by the Bank of Spain, the number of households defaulting on their mortgage for a home purchase stood at 4.65% of the total housing mortgages in the second quarter of 2016, down from 5.2% in the same period of 2015. Compared with the first quarter of 2016, the number of mortgage defaults moderated slightly, as the rate then was 4.78%. El Mundo reported that, in total, the value of all mortgage loans granted to households for the acquisition of a home in Spain stood at 523,595 million euros at the end of June this year, which is 18,940 million euros less than the figure quoted last year, representing a decline of 3.5%. Of the total housing loans, some 24,535 million euros were in question in June of this year, compared with 28,216 million euros in June of 2015. The number of loans for home purchase began 2016 low, after accumulating five consecutive years of moderation to the end of 2015. Since 2010, the last year in which there was an increase in home loans, the value of home loans has fallen by 16%, dropping from 632,449 million euros to 531,256 million euros at the end of 2015. Read...
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Posted by mmmadmin on Nov 1, 2016 in News
Sales of homes in Spain fell by 7.9% in July, compared with the same month of the previous year, and is the first decline registered so far this year, with a total of 39,841 transactions carried out, according to the latest data from the Notaries’ Statistical Information Centre. In seasonally adjusted terms, the reduction is 1.4%. Apartment sales registered the most pronounced declines, falling by 10.2% year-on-year (4.7% in seasonally adjusted terms), followed by free price housing, with a decline of 10%, due to sales of second hand flats falling by 8.4% and sales of new flats falling by 22.6%. However, in contrast, sales of single-family homes recorded a slight increase, of 0.9%. With regards to price, the price per square metre of the homes purchased in July fell by 3.6%, to an average of 1,274 euros, due to a decline in the price per square metre of single-family homes, of 4.6%, and the price per square metre of apartments falling by 2.3%. Moreover, El Economista reported that the price per square metre of free price housing registered a decline of 1.7%, with the average price of second hand flats standing at 1,399 euros (-1.2%), while new flats had an average price of 1,844 euros per square metre (-0.6%). Read...
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Posted by mmmadmin on Nov 1, 2016 in News
According to a recent report from the Spanish Mortgage Association (AHE), in the residential market in Spain fixed rate mortgage loans now represent 4.3% of the total mortgage balance outstanding (as at June 2016). The AHE’s analysis of the Spanish mortgage portfolio, is compiled using data from 12 credit institutions, whose mortgage balance altogether represents 93.3% of the total Spanish outstanding mortgage balance. In terms of interest rates, the AHE pointed out that fixed rate loans have risen slightly, to represent around 6% of the portfolio in June, compared with just 4% in December 2015, while 94% of the portfolio loans have been formed with variable rate mortgages. The AHE indicated that, specifically referring to residential activity in Spain, 4.3% of the mortgage loans are of a fixed rate type and 95.7% are variable rate loans. The report also notes, according to El Mundo, that there has been a slight increase registered in the average repayment term and in the average loan amount. The average mortgage loan amount stood at 100,754 euros in June 2016, which is 1.4% more than in December 2015, while the average repayment term of the loans in the portfolio increased by 1.6 years over the data for December 2015, to stand at 17.82 years. Read...
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