Applying for a mortgage to buy a home is increasingly complicated in Spain. There are many factors that influence: the general rise in prices, increasingly lower salaries, job instability, and in Jaen, A province that loses more population every year means that the economic engine does not gain momentum.
The amount of the housing mortgage in the province is 25,883 euros in September 2023, according to the data collected in the National Institute of Statistics (INE)So it is inferior to the rest of Andalusia: Córdoba 33,461 euros, Huelva 44,475 euros, Almería 56,078 euros, Granada 66,547, Cádiz 93,207 euros, Seville 164,249 euros and Málaga 247,877 euros.
On the other hand the number of mortgages requested in September 2023 were 301, and in 2022, in the same month, 382 were requested (+81), the peak was reached since September of last year, in February, with 429, according to the INE.
However the average annual salary in Jaén it is also the lowest in the community, standing at 16,012 euros, which is quite far from the highest in Andalusia, 19,851 euros in Seville.
Fall in mortgages requested
The evolution of the amount of mortgages as well as the number of those requested has been clear, and although with some rebound, in general it has been detrimental, especially when compared to the period before the burst of the real estate bubble. In 2022 the amount of the mortgages was 350,230 until September, with a total of 3,258 requested. This year a total of 2,990 have been signed in the province (-268) until that same month, the amount of which was 250,608 euros (-99,622).
If you look back much further in time until you reach 2011, in January a peak was reached when the people of Jaén requested 683 mortgages for homes with a value of 58,073 euros. And going back a few more years to 2007, a number of mortgages requested now were reached unthinkable: 1,584 for a value of 168,744 euros.
In SpainBy community, those with the highest number of mortgages in 2022 were Andalusia (91,287), Catalonia (80,767) and Madrid (80,416). Likewise, the regions in which the most loans were provided were Madrid (17,045.0 million euros), Catalonia (13,718.4 million) and Andalusia (11,376.7 million).
Being an owner, an increasingly difficult goal for young people
The Financial Survey of Families, from the Bank of Spain, shows that, in 2020, only 36% of those under 35 years of age owned their main home. A totally different figure than almost 10 years ago, standing at 69.3%.
2023-12-08 06:22:42
#people #Jaén #mortgages #lowest #salary #Andalusia
