Number of mortgages on homes will grow by 0.5% in 2022, according to experts By EFE

Madrid, Feb 26 (.).- The mortgage real estate market will have “healthy” growth this year, since the number of operations granted will increase by 0.5% compared to 2021, when 417,501 were registered, as estimated today by the internet portals piso.com and mortgages-com.

The volume of mortgages reached in 2021 was 23.6% higher than in 2020 (337,752) and the highest in eleven years, according to the National Institute of Statistics (INE), an organization that has highlighted that, however, it barely represents the a third of those signed in 2007, just before the bursting of the real estate bubble.

Both portals explain in a note that the market in 2022 will have “controlled” growth and warn that supply continues to grow below demand, due to the scarcity of new construction.

Meanwhile, the volume of mortgages with respect to purchase and sale operations is still between 70 and 75%, so the situation is “far” from the real estate bubble, when that ratio was up to 150%, they remember.

Despite the fact that 2022 is going to be a year with “various conditions”, the director of Estudios de piso.com. Ferran Font predicts that the market will maintain its current healthy growth.

The person in charge of Business Development at mortgages.com, Josep Vera, believes that it will be a good exercise for technological implementation in the sector, which will promote the “increasingly common” digital mortgages (those that are searched for and contracted through digital means and without going to the bank).

According to his estimate, online contracting will continue to grow as more people become familiar with remote banking and smart contracts.

They also foresee for this year a “greater role” of fixed-rate interest, the growth of the variable rate and the upward trend of initial contributions of more than 100,000 euros and a gender balance among first digital mortgage holders.

Regarding the latter, they highlight that 24% of digital customers prefer homes in small towns (less than 25,000 inhabitants) over those with more than one million citizens (18%).

The applicant for this type of mortgage has a “mature and family” customer profile, that is, a person between 40 and 55 years old (53% of the total) and with an average income of between 35,000 and 75,000 euros per year (48, 5%), according to Vera.

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