The number of mortgages constituted on homes in October decreased in Spain by 22.3% to reach 31,921, adding nine consecutive months of decline, the last three with decreases of more than 20%, a trend that was not followed in Canary Islands, where there was a year-on-year increase of 1.5%, according to data published this Thursday by the INE.
In the islands, where 1,564 mortgaged homes were registered in the tenth month of the year, this variation was 63.8% in monthly terms, while the capital lent, which reached 145.793 million euros, grew by 29.5% compared to September of this year and fell by 16.8% when compared to October of last year.
The National Institute of Statistics (INE) also reveals that in the first ten months of 2023 the number of mortgages to buy a home decreased by 17.7%, and the capital lent fell by 19.4%.
The average loan amount decreased by 5.3% to 140,564 euros, below the average of mortgages on the total number of properties registered in the land registries in the month (with data from public deeds previously made), which was 154,721 euros, 5.3% less than in the same month of 2022.
The value of mortgages constituted on urban properties reached 6,200.2 million euros, 28% less than in October 2022, while on homes, the capital lent was 4,486.9 million, an annual decrease of 26.4%.
By nature of the property, mortgages constituted on homes concentrated 70.5% of the total capital lent in the month of October.
Data by autonomous communities
The communities with the highest number of mortgages constituted on homes in October were Andalusia (6,630), Catalonia (5,817) and the Community of Madrid (5,061), and in which more capital was lent were the same, the Community of Madrid (1,051.4 million euros); Catalonia (953.4 million), and Andalusia (849.9 million).
The only community with a positive annual variation rate in the capital lent was Castilla-La Mancha (1.9%); Canary Islands and Castilla -La Mancha were the only regions where the number of mortgages increased, 1.5% in the first and 2.5% in the second.
The largest decreases in their annual rates of number of mortgages were the Principality of Asturias (44.1%), Balearic Islands (40.0%) and Aragon (39.9%).
