The number of mortgage approvals increased by 10.6% in January

According INE (National Statistics Institute), the amount of property mortgages approved by banks in Spain has increased year-on-year by 10.6% in January (23,275 in absolute figures). This represent a continued positive tendency during the last 20 months, and it could be also considered as another positive data associated with the recovery of the property market in Spain.

The average amount of the mortgages for property buying was 105,680 euros (-2% compared with December).

By areas, the regions were the yearly increase in the number of approved mortgages have been Castilla-La Mancha, Madrid and Andalusia (+30.4%, +23% and 22.2% respectively). In contrast, the regions with a year-on-year reduction were Canary Island, Galicia, Aragón, La Rioja and Murcia (-27,3%, -10%, -8.7%, -6.6% and -4% respectively).

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