In 2022, the number of attachments tied to habitual residences reached 11,556, reflecting a 5% drop from 2021 according to foreclosures statistics published this week by the National Institute of Statistics. The trend shows that liens on habitual residences, after spiking in prior years, grew rapidly but have begun to ease again. In the two years prior, the increases were double digits, with rises of 60.3% in 2021 and 41.6% in 2020. Yet 2022 marks a second consecutive year with more than 11,500 filings, a level not seen in the previous three years when the figure barely touched 8,000. In the fourth quarter of 2022, 3,049 habitual dwellings were registered, up 50.8% from the previous quarter but down 7.9% from the fourth quarter of 2021. The main purpose of the INE statistic is to present, on a quarterly basis, the number of lien certificates initiated during the reference quarter and recorded in the Property Registers. The statistics remind readers that not all liens culminate in an evacuation of the owner.
25,551 executions in 2022
For the year 2022, a total of 25,551 foreclosures were initiated, down 22.3% from 2021. Of these, 24,288 involved urban properties and homes, while 1,263 related to rural or rustic farms. Foreclosures on urban properties decreased by 22.2% compared with 2021. Among urban properties, 16,851 foreclosures concerned residences, representing an 18.6% decline from 2021, and 14,148 cases involved private homes, a 6.5% drop from the previous year. The year also saw a substantial reduction in liens on properties owned by legal entities, which fell by 51.3% to 2,703, while liens on land dropped by 33% to 640. In addition, foreclosures across various property types including buildings, garages, offices, warehouses and mixed urban developments totaled 6,797 in 2022, down 28.9% from 2021.
Foreclosures on used homes fell 18.3%
Total liens on homes registered in 2022 affected 14,887 used residences, a decline of 18.3% year over year. Foreclosures on new residences also fell, by 20.6%, totaling 1,964. The statistics also break down the vintage of mortgages tied to foreclosures, noting that 15.9% of opened foreclosures in 2022 pertain to mortgages originated in 2007, 14.9% to 2006, and 10.4% to 2005. During 2005 to 2008, half of the foreclosures that began in 2022 intensified.
Andalusia leads home executions
Among autonomous communities, Andalusia registered the highest number of home executions in 2022 with 4,362 cases, followed by the Community of Valencia with 3,344 and Catalonia with 3,136. In contrast, Navarra reported 83, La Rioja 109, and Cantabria 124. In terms of total properties affected, Andalusia, Valencia and Catalonia also topped the list with 5,916, 152 in Navarra, and 4,943 in Cantabria respectively, while Cantabria posted 210 and the Basque Country 286 for other regional totals. These figures illustrate regional concentrations and dispersions in foreclosures across the country and point to the different market dynamics at play in each area.