Click on any flag to get an automatic translation from Google Translate. Some news could have an original translation here: News Nouvelles Nieuws Noticias Nachrichten

European Mortgage comparison Guide 2025: Complete analysis of Rates

This mortgage comparison guide incorporates insights from our two latest video analyses: “European Mortgage Rates at Lowest Levels in January 2025” and “Spanish Mortgage Rates for Non-Residents.” For detailed video explanations, we recommend watching both comprehensive analyses.

Data Source: All mortgage rates and financial data in this mortgage comparison are sourced from the European Central Bank’s official statistics. The figures presented are the latest available data as of January 2025, representing November 2024 measurements.

1. European Mortgage Rate comparison

    

   Comparing Mortgage Rates across Europe

   Our mortgage comparison reveals significant variations across European markets in 2025. Current data shows a remarkable spread in rates, from lows of 3.04% in Spain to highs of 3.94% in Ireland. This mortgage rate comparison helps investors identify the most advantageous markets for property investment.

   Quick Mortgage Rate comparison

   Country	Current Rate	Compared to EU Average (3.44%)
   Spain	3.04%	-0.40%
   France	3.17%	-0.27%
   Belgium	3.19%	-0.25%
   Italy	3.23%	-0.21%
   Portugal	3.29%	-0.15%
   Finland	3.31%	-0.13%
   Luxembourg	3.69%	+0.25%
   Netherlands	3.71%	+0.27%
   Ireland	3.94%	+0.50%

   Key factors in Mortgage comparison

   When comparing mortgages across European markets, consider these essential elements:

   • Interest Rate Types and Spreads
   • Down Payment Requirements
   • Lending Criteria for Non-Residents
   • Insurance Requirements
   • Tax Implications

   Key European Property Investment markets

   The mortgage markets across European countries show significant variation in rates and lending practices. The EU average currently stands at 3.44%, but individual countries demonstrate notable differences that reflect their local economic conditions, regulatory frameworks, and cultural approaches to property ownership.

   Mortgage Rates in Germany: Market analysis and trends

   The German mortgage market is characterized by its stability and conservative lending practices. With current rates at 3.59%, German lenders emphasize long-term security and robust risk assessment. The market is highly regulated, with a strong preference for fixed-rate mortgages that typically require down payments of 20-30%. A unique feature of the German market is the “Forward Darlehen” system, which allows borrowers to lock in rates up to five years in advance of their mortgage start date.

    

   German mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

   As you can see on the chart, as of November 2024, Spanish mortgage rates are cheaper by 0.55% than German mortgage rates. This is very good news for real estate buyers in Spain. In November 2024, German mortgage rates were sold at 3.59%.

    

   Mortgage Rates in France: current conditions and requirements

   French mortgage lending, offering competitive rates at 3.17%, combines strong borrower protections with structured application processes. This rate, notably below the European average, makes French mortgages particularly attractive for international investors. The French system is notable for its mandatory life insurance requirements and maximum debt ratio restrictions of 35%. First-time buyers can benefit from the “Prêt à taux zéro” program, which provides zero-interest loans under specific conditions.

    

   French mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

   As you can see on the chart, French mortgages are a little bit more expensive than Spanish mortgage rates in November 2024. They trade at 3.17%

    

   Mortgage Rates in the Netherlands: system overview and benefits

   The Dutch mortgage market, currently with rates at 3.71%, stands out for its innovative approach to lending and strong focus on sustainability. Despite rates being slightly above the European average, the system offers various mortgage types and relatively high mortgage-to-income ratios. A distinctive feature is the National Mortgage Guarantee scheme, which provides additional security for both lenders and borrowers.

    

   Dutch mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

   As you can see on the chart, Spanish mortgage rates and Dutch mortgages are more expensive than Spanish mortgage rates by 0.67%. In November 2024, Dutch mortgage rates were sold at 3.71%.

    

   Mortgage Rates in Belgium: market features and opportunities

   Belgium’s mortgage market, with current rates at 3.19%, positions itself competitively within Europe. This rate, significantly below the EU average, combines with strong consumer protections and stable lending practices. The Belgian approach emphasizes income stability and typically requires a 20% down payment, while offering various tax advantages for property owners.

    

   Belgian mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

   As you can see on the chart, Spanish mortgage rates and Belgian mortgage rates are close to each other in November 2024. As of November 2024, Belgian mortgage rates were issued at 3.19%, 0.15% higher than Spanish mortgages.

    

   Mortgage Rates in Ireland: market conditions and lending practices

   The Irish mortgage market currently shows rates of 3.94%, positioning it above the European average. Despite higher rates, Ireland offers robust first-time buyer programs and clear regulatory frameworks. Key features include strict Central Bank lending rules, comprehensive buyer protection measures, and increasing availability of long-term fixed rates.

    

   Irish mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

   As you can see on the chart, Irish mortgages are much more expensive than Spanish mortgages. As you will surely know, the Irish real estate market rebounded strongly and is one of the hottest markets in Europe even with those higher rates. In November 2024, Irish mortgage rates were trading at 3.94%, 0.9% higher than Spanish mortgage rates.

    

   Mortgage Rates in Italy: southern European perspective

   Italy’s mortgage market presents competitive rates at 3.23%, making it an attractive option for property investors. The Italian system combines traditional lending practices with modern financial products, offering both fixed and variable rate options. The market is particularly appealing for vacation home buyers and those interested in historical property renovation.

    

   Italian mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

   As you can see on the chart, Italian mortgages are much more expensive than Spanish mortgages. In November 2024, Italian mortgage rates were trading at 3.23%, 0.19% higher than Spanish mortgage rates.

    

   Mortgage Rates in Luxembourg: financial center insights

   Luxembourg’s mortgage market, with rates at 3.69%, reflects its position as a major financial center. Despite rates above the EU average, the market benefits from strong international banking presence and sophisticated financial products. The country’s high property values are offset by competitive lending terms and strong legal protections for buyers.

    

   Luxembourg mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

   As you can see on the chart, Luxembourg mortgages are much more expensive than Spanish mortgages. In November 2024, Italian mortgage rates were trading at 3.69%, 0.65% higher than Spanish mortgage rates. As you know probably, the Luxembourg real estate market has a very high valuation and we could see this as banks being prudent or instructed by the European Central Bank to be prudent.

    

   Mortgage Rates in Portugal: Mediterranean market analysis

   Portugal offers attractive mortgage rates at 3.29%, positioning itself competitively within the southern European market. The Portuguese system provides particular advantages for non-resident buyers, with specific programs designed to attract international investment. The market combines affordable property prices with accessible financing options.

    

   Portuguese mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

   As you can see on the chart, Portuguese mortgages are much more expensive than Spanish mortgages. In November 2024, Portuguese mortgage rates were trading at 3.29%, 0.25% higher than Spanish mortgage rates. The Portuguese real estate market had a nice run too and we could see some caution from Portuguese banks.

    

   Mortgage Rates in Finland: Nordic market perspective

   Finland’s mortgage market, with rates at 3.31%, demonstrates the stability characteristic of Nordic financial systems. The Finnish approach emphasizes transparency and efficiency in lending processes, with strong digital integration and streamlined application procedures. The market offers particular advantages for energy-efficient properties and new constructions.

    

   Finnish mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

   As you can see on the chart, Spanish mortgage rates since March 2022 are cheaper than mortgages in Finland, as of November 2024, they are cheaper by 0.27%. This is very good news for real estate buyers in Spain. In November 2024, Finnish mortgage rates were sold at 3.31%.

    

   Want to learn more about European Mortgage Rates?

   Watch our comprehensive video analysis “European Mortgage Rates at Lowest Levels in January 2025” to discover:

   • Detailed monthly changes in rates across all European countries

   

   • Five-year historical trends and patterns
   • Impact of inflation on current rates

   

   • Financing conditions across different regions

   

   • Expert predictions for the coming months

    
   Would you like to watch this video in your language? Click at the bottom right of the video on “cc” to get subtitles in your language.
    
   

    

   #SpanishMortgage #PropertyInSpain #NonResidentMortgage #SpanishProperty #InvestInSpain #SpanishRealEstate #MortgageAdvice #ForeignBuyer

    

2. Professional support framework

    

   Success in the Spanish mortgage market often depends on accessing professional support services. This includes legal assistance during the property purchase process, financial advisors for mortgage comparison and tax planning, and property services professionals for market analysis and valuation expertise.

    

Conclusion

The European mortgage market offers diverse opportunities for property investors, with Spain emerging as a particularly attractive option in 2025. Our video analyses demonstrate that while each country presents unique characteristics and requirements, Spain’s combination of competitive rates, stable banking sector, and strong property market fundamentals makes it especially appealing for foreign buyers.

For more detailed information and regular updates on European mortgage rates and Spanish property investment opportunities, we recommend subscribing to our video channel. Our comprehensive analyses are updated monthly with the latest market data and expert insights.

Mortgage comparison in Europe FAQ

Easy downloadables charts on mortgage rates evolution in Europe

Bar chart comparing data for various mortgage rates for different European countries, with Ireland highest at 3.94. Includes Belgium, Netherlands, Finland, Germany, Italy, Portugal, Luxembourg, the EU logo “HTBIS,” and notably showcases Spanish mortgage rates alongside Spain’s performance.

The post Mortgage rates comparison in Europe appeared first on How to buy in Spain.

Mortgage rates for non-residents: Spain’s position in the European landscape

Here is our update of January 2025 with the last available data (November 2024) on Spanish mortgage rates for non-residents from the European Central Bank

One question we get from our customers nearly daily is: How expensive are the mortgage rates in Spain vs other European countries?

So, we were due to do some work on that and here is the result. At the same time, we took the opportunity to increase our databases, and this article will be updated later. Please note that all the charts are interactive and, whenever we update our database, the charts will be updated.

Thanks to our network of local partners, we get the best mortgage rates in Spain if you want to finance your home in Spain. Take 30 seconds to fill this quick form to get the best Spanish mortgage rates as a non-resident.

1. Mortgage rates in Spain for non-residents: our 2 minutes video

   Would you like to watch this video in your language? Click at the bottom right of the video on “cc” to get subtitles in your language.
   

    

2. Navigating the Mortgage process as a non-resident in Spain

   While many international buyers prefer to purchase their Spanish second home outright with cash, this approach might not always be the most strategic. Even if you have the means for an all-cash transaction, considering a mortgage could unlock a suite of financial benefits. From diversifying your investments and increasing liquidity to optimizing tax efficiencies, the advantages are compelling. Intrigued? We invite you to journey with us through the upcoming sections, where we’ll unveil the nuanced benefits of leveraging a mortgage for your property in Spain—a decision that could redefine your financial strategy.

   Securing a mortgage in Spain as a non-resident is a feasible endeavour, though it does come with its unique set of challenges and considerations. Given that the majority of your assets are likely situated outside of Spain, Spanish banks will meticulously evaluate both your personal financial profile and the property in question to mitigate their risk exposure. Generally speaking, the terms offered to non-residents may be more conservative compared to those available to residents. This often translates to less favourable interest rates, stricter borrowing criteria, and a reduced loan-to-value ratio, meaning you might need to provide a larger down payment. Additionally, the process might involve more comprehensive documentation and a longer evaluation period to thoroughly assess the viability of extending credit under these circumstances. Understanding these nuances and preparing accordingly can smooth the path to acquiring your Spanish property.

   
   
   

3. Comparing Spanish Mortgage rates with European averages

    

   Spanish vs. European Real Estate financing

   Thanks to the detailed database of the European Central Bank that we could import, we could run a thorough analysis of mortgage conditions for all the European countries vs Spain. Before jumping on detailed statistics on different mortgage solutions we looked at general conditions for mortgage rates both in Europe and in Spain.
   All Mortgages issued in Spain in November 2024 had an average interest rate of 3.04%  (vs 3.1% in January 2023) while all mortgages issued in Europe had an average interest rate of  3.44%  for the same period (vs 3.19% in Spain in January 2023).

   The chart below clearly demonstrates a strong correlation between Spanish mortgage rates and their European counterparts. Both datasets, meticulously compiled by the European Central Bank, serve to monitor financial trends across the region. Historically, from November 2014 to April 2022, Spanish mortgage rates were consistently higher than the European average, marking a more expensive borrowing climate within Spain. During this timeframe, the average Spanish mortgage rate stood at 2.02%, in contrast to the slightly lower European rate of 1.87%, indicating a notable 0.15% disparity that disadvantaged both the Spanish property market and prospective homeowners.

   Spanish mortgage rates are cheaper than European ones

   A new trend started in 2022

   However, the trend reversed post-April 2022, as Spanish mortgage rates began to align with or dip below the European average. As of November 2024, the most recent data point at the time of this analysis, the average mortgage rate in Spain had settled at 3.04%, marginally below the European average of 3.44%.

   This shift represents a significant 0.40% advantage, benefiting both the Spanish real estate market and its investors: Spaniards and foreigners, and reflects a notable improvement in the affordability and attractiveness of Spanish mortgages relative to the broader European landscape.

   Now that we analyzed all the mortgages issued in both Europe and Spain, it is time to compare rates for different mortgage solutions. As you know mortgage rates are separated in two big categories:

   • fixed rates mortgages, mostly mortgages that will keep the same rate over the full mortgage length, usually between 10 and 25 years,
   • variable rates mortgages, mortgages that will change rates over the life of the mortgage (monthly, yearly, or every five years)

   In the following analysis, we will delve further into the nuances of four distinct mortgage categories: variable-rate mortgages, fixed-rate mortgages with terms of 1-5 years, those spanning 5-10 years, and fixed-rate mortgages with a term of 10 years. Notably, variable-rate and 10-year fixed-rate mortgages stand out as the most popular choices among individuals financing their home purchases, both across Europe and specifically within Spain. This comparison aims to illuminate the characteristics and trends that define each category, providing a comprehensive overview of the Spanish mortgage landscape.

   Here are all the evolutions and a quick analysis for each:

   Variable Mortgage rates: Spain vs Europe showdown

   As you can see on the chart, Spanish mortgage rates since April 2022 were nearly always cheaper than mortgages in Europe, as of November 2024, they are cheaper by 0.40%.

    

   1-5 years fixed Mortgage rates face-off: Spain vs Europe

    

   As you can see on the chart, Spanish mortgage rates with fixed rates between 1 and 5 years are one of the only Spanish mortgage rates for which you will pay more than in other European countries, on average, as of November 2024, you will pay 0.21% more.

    

   5-10 years fixed Mortgage Rates: Spain vs Europe head-to-head

   As you can see on the chart, fixed Spanish mortgage rates (5 to 10 years) were nearly always more expensive in Spain than in other European countries. Interestingly, as of November 2024, Spanish mortgage rates trade close to the European average, i.e. no more premium as in the past.

    

   10-Year fixed Mortgage rates in Spain versus Europe

   As you can see on the chart, Spanish mortgage rates since March 2022 are cheaper than mortgages in other European countries, as of November 2024, they are cheaper by 0.36%. This is very good news for real estate buyers in Spain.

   At the end of this article, we provide a precise comparison between mortgages issued in different European countries and Spain, have a look at where your home country is!

   Read more on the subject: What are the best Spanish mortgage rates?

4. Key factors behind the advantageous Spanish Mortgage rates

   Thanks to our detailed update, now you know that the Spanish mortgage market is experiencing a confluence of positive factors that set it apart from other European counterparts:

   • Spanish property values remain attractively priced when juxtaposed with other European real estate markets, presenting a compelling value proposition and a lower risk for lending banks, just contrary to what we had in 2008,
   • The Spanish economy exhibits resilience and robustness, outpacing the broader European economic performance, which instils confidence in both domestic and international investors,
   • The impact of energy price fluctuations has been mitigated effectively in Spain since the escalation of geopolitical tensions in Ukraine, contributing to a more stable cost of living and operating environment,
   • Spain’s inflation has consistently been lower than the European average, preserving purchasing power and contributing to the overall economic stability,
   • The Spanish real estate sector is characterized by its prudence and lack of speculative excess, evident in the modest percentage of transactions involving mortgages (66%) and the conservative loan-to-value ratio averaging 60%. This reflects a healthy level of leverage and risk appetite in the market.
   • The strength of the general economy in Spain suggests that Spanish banks are in a sound financial position, enabling them to offer attractive financing options without resorting to aggressive lending practices. This financial stability is likely to support continued favourable mortgage rates.

   These elements collectively create a conducive environment for the advantageous spread in Spanish mortgage rates, underscoring the market’s resilience and appeal to a broad spectrum of investors. Additionally, the prudent regulatory framework and proactive fiscal policies may further bolster the market’s attractiveness, potentially leading to sustained growth and stability in the Spanish real estate sector.

    

   

   Why Spanish mortgage rates are less expensive than in other European countries?

5. What are the advantages of obtaining a Mortgage in Spain as a non-resident?

    

   Increase the return on your Spanish property investment

   The main advantage of buying a property in Spain, is that current real estate levels are not crazy if you compare those to other European countries.
   Read more on the subject: What return will you make on your Spanish property?

   Even with current mortgage rates, getting a mortgage is easier than getting a loan for something else as a person as the bank has the property as collateral. So, while we always encourage our customers to manage risks and don’t overleverage, getting a mortgage before buying a property is in our mind a wise way to diversify your financial assets.
   Last but not least, but depending on your home country, real estate assets could be less taxed than other financial assets.

   Diversify your investments

   By taking a mortgage, you can decrease your risks by keeping some funds for other investments.

   Potential tax benefits and how to maximize them

   Buying a property with a mortgage can give you some real tax benefits if you put your property on the rental market afterwards as a “Buy to let” or an investment property. Ask our tax advisors for more on that.

   Advantages of Spanish mortgage rates for UK residents

   In the mortgage landscape, UK banks are known to promote variable-rate mortgages, nudging customers towards options that fluctuate with the market, despite the inherent uncertainty in future repayments. Meanwhile, Spanish banks are more accommodating of fixed-rate mortgages, offering borrowers the chance to lock in a stable and predictable payment schedule throughout the loan term, contrasting with the UK’s bank-driven preference for variable rates.

   Spanish mortgage rates for US residents

   In the US mortgage market, fixed-rate mortgages are predominant, offering long-term stability with terms commonly set at 30 years, allowing homeowners to lock in rates for the duration of their loan. This contrasts with the Spanish market, where, despite a growing preference for fixed-rate options, mortgages typically have shorter terms and the market historically leaned more towards variable rates, influenced by the Euribor. Additionally, the US market is characterized by its diversity in loan products and a more developed secondary market for mortgages, which enhances liquidity and flexibility in terms and conditions, unlike Spain, where the market is more traditional and less varied in its offerings.

   

   Benefits for a non-resident of financing his property in Spain with a mortgage.

6. How to get the best mortgage rate as a non-resident in Spain?

    

   Have the best customer profile for the Spanish bank

   Here are some insights into what constitutes an attractive customer profile for securing a mortgage:

   • Employment and stability: Ideal candidates are employed with a stable and substantial income.
   • Creditworthiness: A favourable credit history with minimal debts relative to income is crucial.
   • Debt management: A healthy debt-to-income ratio below 35. This means that monthly net income would be at least three times greater than debt repayments.
   • Property value: 1/ The chosen property should hold strong resale potential. 2/It should be priced appropriately within the current market. 3/It should be in a location with consistent demand.
   • Geographic consideration: Applicants from OECD countries are often preferred due to stringent anti-money laundering regulations across Europe. Being an EU resident simplifies the process further.
   • Maximum loan amounts for non-residents: Spanish banks would like to keep that under control

    

   Don’t take a too big mortgage compared to the property value

   As a non-resident, you’re eligible to secure a mortgage for your second home or investment property. Given that your assets are not located in Spain, banks will require guarantees and generally cap the loan-to-value (LTV) ratio at 70%. The LTV ratio represents the portion of the property’s pre-tax value that can be financed through a mortgage. This percentage serves as a general guideline. Feel free to request a complimentary consultation from our mortgage broker, who is well-versed in the process and familiar with Spanish banks that are favourable towards foreign clients. The lower this ratio is, the lower the risk for the bank and the better rate for your mortgage.

   

   How to get the best rates as a non-resident.

7. Useful considerations for your Spanish mortgage as a non-resident

    

   Processing time for Mortgage applications

   On average, mortgages are processed quickly but keep in mind, that you need to prepare a full file so the bank can establish your credit profile. Our partner will work on that with you. Don’t worry.

   Higher interest rates and reduced loan amounts for non-residents

   In general, foreigners will get slightly less good conditions than Spaniards for their mortgages. This is normal as foreigners don’t have all their financial assets and incomes based in Spain. With a good credit profile and a reasonable loan to value, our customers get nice quotes.

   NIE number for non-residents

   Acquiring an NIE number is a fundamental step for non-residents looking to navigate the property and mortgage landscape in Spain. This identifier serves as your tax identification number. It is essential for a variety of legal and financial transactions, including the purchase of property and the application for a mortgage. Fortunately, obtaining an NIE is a straightforward process. Your legal representative can handle on your behalf, should time constraints be an issue. For a detailed guide on acquiring your NIE and its importance, we invite you to explore our comprehensive article: Your Spanish NIE number, and how to get it..

   

   Useful considerations for a non-resident to get a Spanish mortgage

8. Comparing Mortgage rates in Spain vs. selected European countries

   Before checking the evolutions of the mortgage conditions between Spain and a few countries, let’s have a look at what is the current situation as of November 2024. Here is the evolution of the different European markets sorted alphabetically, as a reminder, Spanish mortgage rates and European mortgage rates were at 3.04% and 3.44% respectively as of the end of November 2024.

   European mortgage rates November 2024 leaderboard

    

   • Belgian mortgage rates are issued with a 3.19% rate on average in November 2024
   • Dutch mortgage rates are issued with a 3.71% rate on average in November 2024
   • Finnish mortgage rates are issued with a 3.31% rate on average in November 2024
   • French mortgage rates are issued with a 3.17% rate on average in November 2024
   • German mortgage rates are issued with a 3.59% rate on average in November 2024
   • Irish mortgage rates are issued with a 3.94% rate on average in November 2024
   • Italian mortgage rates are issued with a 3.69% rate on average in November 2024
   • Luxembourg’s mortgage rates are issued with a 3.29% rate on average in November 2024
   • Portuguese mortgage rates are issued with a 3.04% rate on average in November 2024

   Here is the same information presented in a column chart:

    

   Belgian mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

   As you can see on the chart, Spanish mortgage rates and Belgian mortgage rates are close to each other in November 2024. As of November 2024, Belgian mortgage rates were issued at 3.19%, 0.15% higher than Spanish mortgages.

    

   Dutch mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

   As you can see on the chart, Spanish mortgage rates and Dutch mortgages are more expensive than Spanish mortgage rates by 0.67%. In November 2024, Dutch mortgage rates were sold at 3.71%.

    

   Finnish mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

   As you can see on the chart, Spanish mortgage rates since March 2022 are cheaper than mortgages in Finland, as of November 2024, they are cheaper by 0.27%. This is very good news for real estate buyers in Spain. In November 2024, Finnish mortgage rates were sold at 3.31%.

    

   French mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

   As you can see on the chart, French mortgages are little bit more expensive than Spanish mortgage rates in November 2024. They trade at 3.17%

    

   German mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

   As you can see on the chart, as of November 2024, Spanish mortgage rates are cheaper by 0.55% than German mortgage rates. This is very good news for real estate buyers in Spain. In November 2024, German mortgage rates were sold at 3.59%.

    

   Irish mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

   As you can see on the chart, Irish mortgages are much more expensive than Spanish mortgages. As you will surely know, the Irish real estate market rebounded strongly and is one of the hottest markets in Europe even with those higher rates. In November 2024, Irish mortgage rates were trading at 3.94%, 0.9% higher than Spanish mortgage rates.

    

   Italian mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

   As you can see on the chart, Italian mortgages are much more expensive than Spanish mortgages. In November 2024, Italian mortgage rates were trading at 3.23%, 0.19% higher than Spanish mortgage rates.

    

   Luxembourg mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

   As you can see on the chart, Luxembourg mortgages are much more expensive than Spanish mortgages. In November 2024, Italian mortgage rates were trading at 3.69%, 0.65% higher than Spanish mortgage rates. As you know probably, the Luxembourg real estate market has a very high valuation and we could see this as banks being prudent or instructed by the European Central Bank to be prudent.

    

   Portuguese mortgage rates vs. Spanish mortgage rates evolution over the last 20 years

   As you can see on the chart, Portuguese mortgages are much more expensive than Spanish mortgages. In November 2024, Portuguese mortgage rates were trading at 3.29%, 0.25% higher than Spanish mortgage rates. The Portuguese real estate market had a nice run too and we could see some caution from Portuguese banks.

    

9. Further readings

    

   • Read more on current financing conditions in Spain with our detailed article: What are the best Spanish mortgage rates?
   • Hesitating between fixed or variable rates on your mortgage (in Spain or elsewhere) have a look at our detailed insights: How do I choose between fixed and variable rates for a mortgage?
   • Last but not least don’t miss our detailed ultimate guide to your Spanish mortgage
   • If you need a mortgage pricer for your Spanish mortgage, check our article for more.

    

Looking for a mortgage or a local expert in Alicante, Malaga, Valencia, Madrid, Barcelona,…? Ask us directly!

Are Spanish mortgage rates more expensive? FAQ

Downloadable Charts

The post Mortgage rates in Spain for non residents: Jan 2025 update appeared first on How to buy in Spain.