Last August, banks lent 30.8% more capital in the Canary Islands than in the same month last year. This is the second highest year-on-year increase in the country, according to data published this Wednesday by the INE.
In Spain as a whole, the number of mortgages constituted on homes stood at 36,721 last August, 10.5% more than in the same month of 2021, bringing the total to 18 months on the rise and up 2.2% since July.
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The average amount of these mortgages was 145,287 euros, 5.4% more than a year earlier, and the capital lent reached 5.33 million euros, 16.4% more than in August 2021.
With regard to the average amount of mortgages on the total number of properties registered in the land registries in August (from public deeds carried out previously), it was 154,679 euros, 1.5% above a year earlier but 4% below that of July.
By nature of the property, mortgages constituted on homes accounted for 71.8% of the total capital lent in the month of August.
The value of mortgages constituted on urban properties reached 7,248.3 million euros, 12.7% more than in August 2021; in homes, the capital lent stood at 5,335.1 million, representing an annual increase of 16.4%.
By nature of the property, mortgages constituted on homes accounted for 71.8% of the total capital lent in the month of August.
The average term of mortgages is 24 years
As for interest rates, for mortgages constituted on homes the average rate was 2.52%, and the average term was 24 years; 28.1% of mortgages on homes were constituted at a variable rate and 71.9% at a fixed rate.
For mortgages constituted on the total number of properties in August, the average interest rate at the beginning was 2.67% and the average term was 23 years; 30.6% of mortgages are at a variable interest rate and 69.4% at a fixed rate.
Breaking down the data by autonomous communities, those with the highest number of mortgages constituted on homes in August were Andalusia (7,670), Catalonia (6,208) and the Community of Madrid (6,058).
The regions in which the most capital was lent for the constitution of mortgages on homes were the Community of Madrid (1,345.0 million), Catalonia (1,027.2 million) and Andalusia (948.4 million).
The ones with the highest annual variation rates in the capital lent are the Balearic Islands (54.5%), the Canary Islands (30.8%) and the Principality of Asturias (28.8%).