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Best mortgage rate in Spain in 2018

08 Mar

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What are the best mortgage rates you can get in Spain in 2018?

The “Instituto Nacional de Estadisticas”, INE, just released the Mortgage statistics of Spain for the month of December. It is very informative and will give you the current market rates.


Current financing conditions for housing

  • Average mortgage has an interest rate of 2.73% (-13.5% vs 2016)
  • The lowest rate was 2.67% in Octobre
  • Mortgage duration is 22 years
  • 62.5% have variable interest rates
  • 37.5% have fixed interest rates
  • The average rate for variable rate mortgages is 2.54%
  • The average rate for fixed-rate mortgages is 3.13%
  • The average amount issued per mortgage stands at €116,709 (increased by 6.3% vs last year)


310.096 mortgages issued in 2017

During the year, we had more than 310.000 mortgages issued in Spain. You should compare that to the number of properties sold of 520.000 which means, in our opinion, that the market is not overleveraged. Last year, the number of mortgages issued was 283.000, that is a 10% growth year over year.

The number of home mortgages registered in the registers of the property in December was 20,691.


The top 5 regions in terms of growth are:

  • La Rioja, +18.4% to 2.054 mortgages,
  • Madrid, +16.6% to 56.644 mortgages,
  • Asturias, +12.4% to 5.565 mortgages,
  • Valencian Community, +12% to 32.963 mortgages and
  • Andalusia, +11.5% to 60.240 mortgages.



You are about to buy a nice second home in Spain. Do you want to know how to get the best mortgage rates on your Spanish property?  Even as a foreigner? Check our detailed paper on this subject.

For more information please read the INE report.

Looking for an expert in Spain? Ask us directly!


Senior analyst and strategist at HTBIS

Check the full HTBIS team here

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