Andalucia Mortgage Activity Rises by Over 50 percent
20th October 2017
Andalucia recorded the sharpest increase when the total number of mortgages constituted in August rose by 50.2%, followed by Madrid (42.9%) and Galicia (39.2%).
There was a 29.1% increase in the number of mortgages granted in August across Spain and year-to-date (January to August) figures maintained an upward trend with new approved mortgage loans rising by 12.85% to 210,000. Meanwhile, the 12 monthly total stands at 306,000, 12.1% higher than a year ago and the highest level since July 2012, reports online newspaper Murcia Today.
A rise in property sales usually goes hand in hand when mortgage activity rises, as was the case for August; sales grew by 16%, the data shows.
Malaga, located in Andalucia, has experienced an upturn in its property market over the past year. From June 2016 to June 2017 a total of 28,271 properties were sold in Malaga and the region was declared the fourth province with the highest number of property sales in Spain after Madrid (63,037 units) Barcelona (51,010) and Alicante (32,068), reported local newspaper Euro Weekly News.
Published by David
