Foreclosure activity for ordinary home properties in the third quarter reached 2,022 cases. This figure marks the lowest level since the third quarter of 2020 and shows a 13.8% decrease from the same period in 2021, as well as a 36.1% drop compared with the previous quarter.
According to statistics released this week by the National Institute of Statistics, this marks the second consecutive decline in foreclosures on habitual residences after seven straight quarterly increases. The data are designed to provide a quarterly view of the number of lien certificates initiated and recorded in the Property Registers during the reference quarter, while also noting that not every lien results in the eviction or release of the owner.
In the third quarter of this year, a total of 4,105 foreclosures were initiated, representing a 38.3% drop from the prior quarter. This is 42.3% lower than the same period in 2021. Of these cases, 3,917 involved urban properties, including homes, while 188 concerned rural or rustic properties. The urban segment remains the primary driver of foreclosures, and its share has shifted in line with broader economic patterns observed over the past year.
Foreclosures on urban properties declined by 37.3% compared with the same quarter last year and by 41.7% against the previous quarter. A total of 2,884 executions on urban farms were recorded, reflecting a 29.9% decrease from the third quarter of 2021 and a 37.2% decrease from the prior quarter for residential properties. The trend underscores a broader cooling in the property sector, even as regional variations persist.