Mortgages on homes fall by almost 20% in Catalonia. The average amount decreased by 6.1% to 152,365 euros
In the demarcation of Lleida, the most moderate decline in the formation of mortgages occurred compared to the rest of the Catalan territory, until 261.
The number of mortgages on homes fell by 19.6% in Catalonia, to 5,231, according to provisional data from mortgage statistics issued by the National Institute of Statistics. Compared to the previous month, the decrease amounted to 18.1%. Regarding the amount lent for real estate loans, it increased to 797.02 million and the average amount in March reached 152,365.1 euros compared to 152,365 euros, i.e. 6.11% less than in March of last year. At the state level, the number of home mortgages fell by 18.1% annually, to 29,653, while compared to February, the decrease was 20.4%. The average mortgage amount was €137,169, 3.5% lower than in March 2023.
The 5,231 mortgages signed for homes in March in Catalonia represent the lowest number since 2020 in the same month, coinciding with the state of alarm, when 4,985 were completed, according to provisional data from the National Institute of Statistics.
By demarcation, Barcelona saw a 20.53% decrease in the number of mortgages originated in March compared to the same month of 2023, reaching 3,767. The amount lent amounted to 601.3 million euros, a year-on-year decrease of 27.7% and an average of 159,645 euros.
In the regions of Girona, 575 mortgages were created, a figure that represents a decrease of 19.25%. Lending capital amounted to 95.1 million euros, 9.1% less than in March last year. The average amount was 165,401 euros.
The Lleida demarcation was where the most moderate decline in mortgage formation occurred compared to the rest of the Catalan territory, falling to 261. The amount lent was €30.8 million, 3.6% lower than in March last year. The average amount per mortgage was €118,210.
In the Tarragona demarcation, 628 mortgages were created, 16.72% less than in March 2023, and the amount lent amounted to 69.6 million euros, 19.4% less per year. The average amount per mortgage was €110,950.
By community, the Regional Community of Navarre led the increases in house constitutions in the state, with 21.4% more, followed closely by the Community of Madrid, with 1.5% more. On the other hand, declines were recorded in the rest of the societies, led by the Canary Islands, by 31.7%. It is followed by Castile-León with 31.2% and the Basque Country with 28.8% less.
The average interest rate on mortgages was 3.41%, and the average term was 23 years. 47.4% of home mortgages were originated at variable rates and 52.6% were originated at fixed rates. The average interest rate was 3.15% for variable rate mortgages and 3.64% for fixed rate mortgages.
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