Mortgage loans in Alicante increased by 18% in November

Mortgage issuance has continued to increase over the past period November, despite the rise in interest rates making loans significantly more expensive. According to data released by INE this Wednesday, in that month 1,735 credits for the purchase of housing in the province, 17.8% more than the same period last year.

some data to verify dynamism registered by the real estate market He had already estimated that Alicante was in the last part of 2022 and that sales figures were at their maximum since the bubble period a few days ago. a phenomenon caused blocked request during quarantine and also because of its expectations new rate increases making it more difficult to access the necessary financing, made many purchasing decisions.

In this case, the data for November Highest mortgage volume issued this month since 2010, according to the historical series of INE, which also reflects the increase in average amount this is requested. In this way, if a year ago when people from Alicante went to buy a house and demanded an average of 106,860 Euros from the bank, now this amount is already 106,860 Euros. 113,325 €The heat of the growth in demand is reflected in the registered square meter prices in this period.

A poster with a mortgage ad. Joseph Navarro

In the accumulated volume of the year, the transaction volume recorded in the registers in 2022 has already reached 18,114, an increase of 10.4% compared to the previous year. It, € 1,910 million According to the same sources, new mortgage financing in the province is 14.7% more than in 2021.

Regarding the type of mortgage contracted at the national level – INE does not provide this regionally disaggregated data – 63.4 percent of new loans for home purchases were fixed interest rates.It should be noted that, despite the significant cost increase incurred by this type of mortgage, the public agency also records mixed mortgages in this segment—fixed first tranche and remaining years variable. started to establish itself in the market. The initial average rate was 2.55%.

In the province, where the number of housing loans granted in November increased by 10.8% compared to the same month of the previous year, the increase in contracts was above the national average.

Source: Informacion


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