Number of mortgages on Mallorca declining

Andalusia tops the list for loan liabilities for real estate

The Balearic Islands are the only region in Spain where the number of current mortgage contracts is currently low. According to the National Statistics Institute (INE) in Madrid, it has fallen by more than 1.5 percent in the last two and a half months.

The autonomous regions of Spain with the highest number of mortgage liabilities in the real estate sector include Andalusia (6,746), Catalonia (6,177) and the Madrid region (5,625).

In these three regions, the total amount of mortgage contracts in force is also the highest in the country.

In Madrid, it amounts to 1,102.0 million euros, in Catalonia 994.7 million euros and in Andalusia 773.1 million euros.

The average interest rate on residential mortgages in Spain is currently 2.07 percent for variable-rate mortgages and 2.8 percent for fixed-rate mortgages.

Over 7 billion euros in mortgage capital
The total capital of all mortgage loans granted in Spain rose by almost 40 percent to over 7.1 billion euros in the second quarter of the current year, while the average capital amount of a property mortgage granted nationwide rose by 2.6 percent to just under 150,000 euros.