Mortgages up over 30% in Balearics

Two people look at properties for rent and for sale in a window of a real estate agency located in Palma. | Matias Chiofalo

Europa PressPalma26/01/2022 09:54
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The signing of mortgages for the purchase of a home reached 863 operations last November, 32.4% more than in the same month of 2020 and 8.3% more than in October 2021, according to data published today by the National Statistics Institute (INE).

During November, the capital loaned in the islands amounted to around 182 million euros, an amount that grows by 27.9 % in a year and increases by 8.2 % compared to the previous month of 2021.

In the Balearic Islands 1,400 mortgages were constituted last November on properties for a loan capital of 286.7 million euros, of which 1,340 correspond to urban properties for 258 million and 60 are rustic properties for a capital of 28 million. Of the urban properties, 863 were dwellings, 13 were plots of land and 464 were other types of properties in the islands.

In addition, a total of 1,183 mortgages were cancelled in the Balearic Islands in November, of which 55 were rural properties, 787 dwellings, 22 plots of land and 319 other urban properties.

At the national level, the number of mortgages signed on dwellings was 36,220, 24.1% more than in November of the previous year, for an average amount of 138,189 euros, which represents an increase of 1.5%.