In this atypical year for him real estate, in which the expected price drops have barely occurred and yet Spanish salaries have clearly fallen, the effort of families to buy a home it has increased again. Spaniards spent on average 21.4% of their disposable family income to face the first year of mortgage in the third quarter of the year (latest data available), which represents an increase from the 20.5% observed in the second quarter of the year.
According to data from National Institute of Statistics, INE, the average mortgage in Spain was 133,976 euros, also above the 128,169 euros in the second quarter, with an average monthly payment of 610 euros.
According to the provincial average mortgage figures published by the INE for the third quarter of the year, in Malaga the net financial effort of families to access a home, it reaches 30.3% and 27.7% in the Balearic Islands. Among the provinces with the lowest rates of net effort, Castellón and Álava stand out, below 14%.
In the two main capitals, Madrid and Barcelona, the net financial effort reached 19.8% and 22.9%, respectively. In Madrid the districts of Chamberí and Moncloa-Aravaca exceed the rate of 25%, a reference that in Barcelona also surpasses the districts of Les Corts, Sarriá-Sant Gervasi and Gràcia.
Balearic Islands (864 euros) widely surpasses as the province with the highest monthly mortgage payment average to Barcelona (786 euros), which in the third quarter was also surpassed by Madrid, with an average monthly fee of 851 euros. The three provinces double or even triple the monthly fee in Castellón (245 euros), Cuenca (332 euros), Ávila (343 euros) and Jaén (346 euros).
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