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Spanish home mortgages increase by 1.6 pct in 2014

Xinhua, February 27, 2015 Adjust font size:

The number of home mortgages granted to prospective buyers in Spain increased by 1.6 percent in 2014 when compared with 2013, according to provisional data published on Thursday by Spain's Statistical Office (INE).

According to the INE, a total of 202,954 home mortgages were granted to prospective buyers in 2014, with an average value of 102,130 euros (114,386 U.S. dollars), which meant a 2.1 percent increase in comparison with 2013.

The amount of capital loaned stood at 20.727 billion euros, which meant a 3.8 percent increase when compared with a year earlier, the INE said.

The 2014 figure meant the first increase since 2006, as since 2007 home mortgages have been falling due to the burst of the housing bubble of 2008. Home mortgages fell by 27.1 percent in 2013, by 33 percent in 2012 and by 32.8 percent in 2011.

Meanwhile, the INE also reported that the number of home mortgages increased by 28.9 percent in December compared to a year earlier to a total of 15,962, while increasing by 0.4 in comparison with November. (1 euro = 1.12 U.S. dollars) Endit