Offers for the sale of new apartments that cannot find a buyer saturate the Vilagarca market MNICA IRAGO
The Galician market reduced its increase by 8.7% in 2022, while in Spain as a whole it reached the highest figure in 13 years
23 feb 2023 . Updated at 10:48 a.m.
The number of mortgages on homes constituted in Galicia in the whole of 2022 stood at 15,701, although the increase slowed to 8.7%, according to data published this Thursday by the National Institute of Statistics (INE). Meanwhile, in Spain, the total number of mortgages reached 463,614, the highest figure since 2010, although the increase slowed to 10.9%, less than half the 23.8% that increased the previous year.
According to the provisional data published this Thursday by the National Institute of Statistics (INE), the capital lent to constitute these housing loans stood at 67,460.6 million euros after increasing 17.3% year-on-year, while the average amount rose 5.8%, up to 145,510 euros.
In December 2022 alone, 30,075 mortgages were signed to purchase a home, 8.8% less than a year earlier, in what was the first setback after 21 months on the rise. The average amount of these loans was 143,854 euros, 0.4% less than in December 2021, and the loaned capital fell by 9.2% and stood at 4,326.4 million euros.
interest rates
The average interest rate on home mortgages was 2.67% in December, the highest since April 2018and 0.35 points lower than the eurbor for that month, which stood at 3.02%.
34.5% of home mortgages were constituted at a variable rate and 65.5%, at a fixed rate, according to these data, which add that the average interest of those signed at a fixed rate was 2.93% and that of those referenced to a variable rate, 2.18%, with a average term of 24 years.
Total mortgages in 2022
last year A total of 608,567 farms of all kinds were mortgaged (9% more)for which 95,852 million (16.1% more) were lent, with an average amount of 157,506 euros, 6.5% more, explains the INE.
Of all these loans, 11,594 were to acquire rustic farms, which fell by 12.8% year-on-year. The capital lent for these operations decreased by 5.7%, up to 2,111 million euros and the average mortgage stood at 182,144 euros (8.1% more). Urban farms represented 596,973 operations (9.6% more) and the loaned capital totaled 93,741 million euros (16.7% more), with an average amount of 157,027 (6.6% more).
With regard to registry changes, the total number of mortgages with modifications in their conditions that were registered in the property registries in 2022 was 151,535 and fell 44.3% year-on-year. Considering the type of change in conditions, 124,042 novations (or modifications produced with the same financial entity) were registered, with a decrease of 45.6%. The number of operations in which the entity changed (subrogations to the creditor) decreased by 36.3% and the number of mortgages in which the owner of the mortgaged asset changed (subrogations to the debtor) decreased by 41.9%.
Andaluca, Catalua and Madrid, leaders in mortgages
The Communities with the highest number of mortgages constituted on homes during the year 2022 were Andaluca (91,287), Cataluña (80,767) and Comunidad de Madrid (80,416). The Communities in which more capital was lent for the constitution of mortgages on homes were Comunidad de Madrid (17,045.0 million euros), Catalonia (13,718.4 million) and Andalusia (11,376.7 million). In December alone, the order was the same as in the year as a whole in terms of the number of home mortgages, with Andalusia at the top (6,836), followed by Catalonia (5,282) and the Community of Madrid (4,401).
