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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

 

What are the best Spanish mortgage rates?

 

Here is our December 2024 update with the latest data available

Leveraging our expansive network of local partners, we secure Spain’s most favourable mortgage rates for those looking to finance their homes. Throughout much of 2022, we observed significant discounts on mortgage rates as inflation surged while long-term rates remained subdued, thanks to the European Central Bank’s (ECB) efforts. Now, zoom forward to end-2024, inflation is more controlled (2.4% as of November 2024 – back to the low of the range over the last 3 years) and it looks like economies are suffering from the restricted monetary policy of the ECB. In this context, some market experts expect the central bank to lower rates. We can already see this impacting mortgage conditions and long-term rates.

To stay informed about the latest Spanish mortgage rate trends, it’s crucial to consult real-time data from the most recent mortgages issued in Spain. This insight allows you to understand the most competitive rates currently available. Foreigners must note that rates may vary since their assets are primarily overseas.

We’ve built the largest database to monitor fluctuations in this sector, enabling us to generate dynamic, engaging charts. The “Instituto Nacional de Estadísticas” (INE) has recently published the mortgage statistics for Spain as of September 2024, providing a clear view of the current market rates.

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 complete this quick form to get the best Spanish mortgage rates.

 

  1. Spanish mortgage rates: 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. What are the current mortgage rates in Spain?

     

    Current market conditions

    • The average mortgage has an interest rate of 3.14% (vs 3.32% end of December 2023)
    • The lowest rate ever was 2.44% reached in September 2020.
    • The average rate for variable-rate mortgages is 2.92% (vs 3.07% end of December 2023)
    • The average rate for fixed-rate mortgages is 3.3% (vs 3.54% end of December 2023)

     

    Check the evolution of the mortgage rates (average, fixed and variable ) over the last years on our interactive chart (browse with the mouse to check data)

     

    What are the best mortgage rates for our customers?

    As of September 2024, our partner can get very good conditions for mortgages for our non-resident buyers:

    • Fixed rates: from 2.85%
    • Mixed solution: from 2.50% fixed for 5 years, after Euribor + 0.75%
    • Variable rates: from 2.50% fixed for 1 year, after Euribor + 0.75%

    And of course, they don’t stop with foreigners, our partner gets very competitive mortgage rates for Spaniards:

    • Fixed rates: from 2.52% (if taking other products like insurance from the bank for instance,…)
    • Mixed solution: from 1.50% fixed for 5 years, after Euribor + 0.60%
    • Variable rates: from 1.35% fixed for 1 year, after Euribor + 0.25%

    So, don’t hesitate to fill out this quick form if you want a free quote from our partner. They are specialized in working with foreigners looking for a mortgage in Spain. Please note that to get the best rates, banks add some conditions as in your home country.

    Essential information on Spanish Mortgages for non-residents

    As a non-resident, you can take a mortgage to finance your second home or your investment. Of course, as your assets won’t be based in Spain, the bank will need warranties and won’t allow a loan to value more than 70% in general. The Loan to value is the amount of mortgage you can get divided by the value of your property before tax, but this % is only for good inquiry. Don’t hesitate to ask for a free quote from our mortgage broker, he knows perfectly how it works and which Spanish banks love foreigners.

    Don’t miss our new detailed article on that subject: Mortgage rates in Spain for non-residents: our detailed guide.

  3. Calculate the cost of your Spanish mortgage

    Check our ultimate Spanish mortgage calculator.

    To help you out, we have created an easy-to-use table of the monthly repayments depending on the amount you want to take for a mortgage. If you want to go deeper into details, use our calculator to fine-tune your mortgage to your situation and you will find out what would be your monthly payments, mortgage schedule,…

     

    What is the cost of a €100,000 mortgage over 10 years?

    If you want to go into the details, here is a calculation example we did:

    As you will see if you take a mortgage of €100,000 for 10 years with a rate of 3.5%, your monthly payment to reimburse your mortgage will be €989.

    Thanks to our Spanish mortgage rate calculator, you can change any number and calculate what would be your situation.

     

    Summary table of your monthly reimbursements for a €100.000 Mortgage

     

  4. Buy to let in Spain?

    If you are about to invest in Spain, it is always interesting to compare the financing conditions with your returns prospects, check our last article on that subject:

    What return will you make on your Spanish Property investment in 2023? If you see your property investment in Spain as an investment, adding some financing (without being crazy) will increase your return and decrease your costs.

     

  5. Should I take a mortgage with fixed or variable rates?

    Fixed-rate and variable-rate mortgages are the two main categories of mortgages you can pick. Of course, there are many other possibilities between the two.

     

    Why would you take a fixed-rate mortgage?

    A fixed-rate mortgage has the advantage that whatever the market conditions will do in the future, it will remain the same. To get that advantage, you will on average pay a higher rate than on a variable-rate mortgage, for instance, as of September 2024, mortgages with variable rates were issued at rates of 2.92% while those with fixed rates were issued with 3.30 % for an average length of 24 years.

    Why would you take a mortgage with a variable rate?

    It could be because it is less expensive than a mortgage with fixed rates (monthly instalments) because you don’t see inflation or rates going higher or because you are comfortable financially and can face higher rates in the future. Another reason variable rates cost less than fixed rates is that for the banks issuing them, it matches their sources of funds (savings accounts) and they take less risks by issuing them rather than fixed rates mortgages.
    To sum up, if you want safety, take a fixed-rate mortgage. If you see inflation spiking or interest rates going higher (in general due to a strong economy) you could as well go for a fixed-rate mortgage. Of course, the longer your mortgage is the higher your risk will be.
    Don’t hesitate to ask your Spanish mortgage broker for pricing with both and compare both offers.

     

    Inflation update since the start of 2023

    After the big inflation spike of 2022 around the world and in Spain, inflation in Spain is moderating finally to +2.2% as of August 2024. We note that since 2022, the trend changed clearly and the majority of mortgages are issued with fixed rates. We kept telling you in 2022, to lock in those crazy long-term rates levels… remember our chart:

    Maybe some people see a real risk of inflation staying high, which in turn should increase the variable rates. Since June 2023, we still see the fixed rates as leading the mortgage initiations but we are going back towards a 50/50 split between variable and fixed rates. As of mid-2024, with long-term rates decreasing and with inflation decreasing, we see that fixed rates are back on the top of the list. Check our interactive chart on that.

    Check the evolution of the percentage of mortgages with fixed and variable rates with the inflation rate

    We wrote a completely new article on that subject: “Fixed or variable mortgage for my Spanish home?“

  6. How do you secure the best mortgage rates in Spain?

    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 and follow the link or listen to our 2 minutes video on how to apply for your mortgage up to the end and get all our tips to get the best rates:

    You have to ask yourself this question: What is the ideal mortgage customer for a bank? The bank will take a risk, the risk of not being repaid and in this case, the bank will need to take legal action to control your property and will sell it afterwards on the market. We saw what happened after the financial crisis of 2008: thousands of properties finished in the hands of the banks as owners couldn’t pay their mortgages.

    The ideal mortgage customer for a Spanish bank

    • has a good professional profile: he is employed and has a stable nice income stream,
    • has a good credit report, he does not have too much debt vs. his income,
    • can afford to have debts: his debt to income ratio is under 35 %, which means that his monthly net income is 3 times bigger than his monthly debt repayments,
    • the property has a good resale value:
      1. the property price is correct vs. the market
      2. there is demand in the market for such a property
    • is coming from OECD countries, as you know, with anti-laundering laws that came into effect all over Europe, it is challenging for banks to give a loan to residents of certain countries. Of course, if you are a resident of the European Union, it will be the easiest.

     

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

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

     

    Get a free mortgage quote

    At howtobuyinSpain.com, you are in good hands, we work with a mortgage broker who asks for the best mortgage prices for all the Spanish banks. Depending on your profile, certain banks will be more aggressive and others won’t be. Our mortgage partner knows that and they will go to the best bank or will ask for quotes from many Spanish banks to get you the best quote. They work with all the biggest Spanish banks: BBVA, Bankia, Santander,… Get a free mortgage quote from our partner.

  7. Spanish mortgages Rates: Market Insights and Trends

     

    381,560 mortgages issued in Spain over 2023

    2022 was a record year for mortgage rates in Spain: 464,000 credits were issued. Even stronger than 2021 which was already strong. So, in 2023, with the rise of interest rates, the number of mortgages decreased by 18%, while at the same time, the number of transactions decreased by 19% (from 734,000 transactions in 2022 to 596,000 transactions in 2023).

    A healthy market: Only 64% of properties are bought with a mortgage (vs 63% in 2022). In our opinion, the market is not over-leveraged. Have a quick look at the table for statistics since 2015. Yes, we are far from the high-leverage situation we had in 2007.

     

    Historical evolution of Spanish mortgage rates & useful information

    • The average mortgage duration is 24 years
    • Only 6% of issued mortgages in Spain are bigger than 80% of the property value.
    • 46% have variable interest rates (vs 35% in December 2022)
    • 54% have fixed interest rates (vs 65% in December 2022)
    • The average amount issued per mortgage is €140,451.

     

    Check the evolution of the average amount issued per mortgage over the last year in Spain in our interactive chart

    • How much leverage is given by banks? What is the average Loan to Value in Spain? (if your property value is 100% how big will your mortgage be?) The quick answer is 63%.
    • 24,927 mortgages were issued -17% vs last year.
    • 3.5 € Bn of mortgages issued for housing in December 2023, -19% vs last year.

    Last but not least, it is always interesting to know the long-term rates and the Euribor, as those are the rates at which Spanish banks get financed. As you can see both short-term rates and long-term rates are exploding since the start of 2022.

     

  8. Resources on Spanish mortgage rates

     

    Discover the best new build projects in Spain
    € 320,000
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    3 beds 2 baths 109 m²
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    3 beds 2 baths 129.2 m²
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    3 beds 2 baths 106.9 m²
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    3 beds 2 baths 106.9 m²
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    2 beds 2 baths 72 m²
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    3 beds 2 baths 85 m²
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    2 beds 2 baths 71 m²
    € 240,000
    2 beds 2 baths 80 m²
    € 280,000
    3 beds 2 baths 88 m²
    € 585,000
    3 beds 3 baths 162 m²
    € 348,000
    3 beds 2 baths 220 m²
    € 355,000
    3 beds 2 baths 100 m²
    € 385,000
    2 beds 2 baths 76 m²
    € 325,000
    3 beds 2 baths 97 m²
    € 269,000
    2 beds 2 baths 81 m²
    € 631,000
    3 beds 2 baths 123 m²
    € 345,000
    2 beds 2 baths 154 m²
    € 430,000
    3 beds 2 baths 116 m²
    € 730,000
    3 beds 2 baths 149 m²
    € 529,000
    3 beds 2 baths 133 m²
    € 319,000
    2 beds 2 baths 87 m²

     

    Check out our latest articles on Spanish mortgage rates

    All our interactive charts of this article are available in a downloadable format

     

 

Best mortgage rate for Spanish mortgages.

Loan to value given on mortgages in Spain

Spanish mortgages with the best mortgage rate in Spain and loan value higher than 80%.

Spanish mortgages with the best mortgage rate in Spain and loan value higher than 80%.

Current financing rates for Spanish banks

Current financing rates for Spanish banks

Average Spanish mortgage sizes in 2024

Average Spanish Mortgage Sizes in 2024

Spanish mortgage rates for non-residents vs properties sold in Spain for each year

Spanish mortgage rates for non-residents vs properties sold in Spain for each year

Spanish mortgage rates: comparison between variable and fixed rates

Spanish mortgage rates: comparison between variable and fixed rates

Best Spanish mortgage rates in March 2024

Best Spanish mortgage rates in March 2024

Average Spanish mortgage length.

Average Spanish mortgage length in years.

FAQ Spanish mortgage rates

How much deposit do I need for a Spanish mortgage?

For your second residence and as a non-fiscal resident, a bank will finance no more than 70 % of the value of your property. This means that you would need to invest at least 45% of the property value from your assets.

What is the interest rate in Spain?

As of December 2024, the average mortgage has an interest rate of 3.14%. The lowest rate ever was 2.44%, very close to the current level! The average mortgage duration is 24 years 39% have variable interest rates 61% have fixed interest rates. The average rate for variable-rate mortgages is 2.92%, and The average rate for fixed-rate mortgages is 3.3%. Read our dedicated article on that subject for more recent data.

Can foreigners get a mortgage in Spain?

Yes, foreigners can get a mortgage up to 70% of the Value of a property.

Can I get a Spanish mortgage?

It is very easy to get a mortgage in Spain. What are the documents requested? Your Passport / ID for all the applicants Your NIE: “Número de identificación fiscal para extranjeros” or Foreign Resident’s Tax Number. How do you get your NIE in Spain? What do you need to get it? Why do you need it? Last 3 paychecks with the contract of employment Proof of income/Contract A view of your assets and debts If it’s a new building: the “Deed for the new building” The private sale-purchase contract If you have a mortgage at home, land registry information on the property and the mortgage If pensioners: Official proof of annual income.

Nice terrace in an old Spanish street

Here are the statistics for earlier years:

 

        • The Spanish mortgage rates situation for December 2021

            • Average mortgage has an interest rate of 2.53%
            • The lowest rate ever was 2.44% reached in Nov 2020!
            • The average mortgage duration is 24 years
            • 32% have variable interest rates
            • 68% have fixed interest rates
            • The average rate for variable rate mortgages is 2.08%,
            • The average rate for fixed-rate mortgages is 2.8%,
            • The average amount issued per mortgage is €145,500: an increase of 1.9% vs last year.
            • 32,905 mortgages were issued +23% vs last year.
            • 4,8 € Bn of mortgages issued for housing in December 2021, +32% vs last year.

           

          The top 3 regions with the biggest increases for the number of mortgages issued (Monthly):
              • Aragon, +33% to 1.159 mortgages
              • Extremadura, +29% to 683 mortgages
          The top region in terms of amounts of mortgages issued (Annual)
            • Balears, 211m€, +116%
            • La Rioja, 19m€, +77%
            • Aragon, 169m€, +70%

 

The Spanish mortgage rates situation for October 2021

                          • Average mortgage has an interest rate of 2.48%
                          • The lowest rate ever was 2.44% reached in Nov 2020!
                          • The average mortgage duration is 24 years
                          • 33% have variable interest rates
                          • 67% have fixed interest rates
                          • The average rate for variable rate mortgages is 2.11%,
                          • The average rate for fixed-rate mortgages is 2.7%,
                          • The average amount issued per mortgage is €137,900: an increase of 1.9% vs last year.
                          • 33,105 mortgages were issued +67% vs last year.
                          • 4,6 € Bn of mortgages issued for housing in August 2021, +70% vs last year.

 

The top 3 regions with the biggest increases for the number of mortgages issued (Monthly):
                          • Navarra, +77% to 510 mortgages
                          • Murcia, +7% to 1,099 mortgages
                          • Andalusia, +2% to 6,589 mortgages
The top region in terms of amounts of mortgages issued (Annual)
                          • Madrid, 1.2bn€, +89%
                          • Andalusia, 793m€, +89%
                          • Catalonia, 863m€, +87%

      • The Spanish mortgage rates situation for February 2021

                        • Average mortgage has an interest rate of 2.49%
                        • The lowest rate ever was 2.44% reached in Nov 2020!
                        • The average mortgage duration is 24 years
                        • 47.3% have variable interest rates
                        • 52.7% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.16%,
                        • The average rate for fixed-rate mortgages is 2.88%,
                        • The average amount issued per mortgage is €131,380: an decrease of 13.8% vs last year.
                        • 31,647 mortgages were issued -23.1% vs last year.
                        • 4,1 € Bn of mortgages issued for housing in February 2021, -29.9% vs last year.

         

        The top 3 regions with the biggest increases for the number of mortgages issued (Monthly):
                        • Murcia, +45% to 1007 mortgages
                        • La Rioja, +40% to 215 mortgages
                        • Valencian Community, +24% to 3600 mortgages
        The top region in terms of amounts of mortgages issued (Annual)
                        • Navarra, 54m€, +19%
                        • La Rioja, 18m€, +16%
                        • Gallicia, 116m€, +13%

      • The Spanish mortgage rates situation for January 2021

                        • Average mortgage has an interest rate of 2.47%
                        • The lowest rate ever was 2.44% reached in Nov 2020!
                        • The average mortgage duration is 24 years
                        • 48.8% have variable interest rates
                        • 51.2% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.17%,
                        • The average rate for fixed-rate mortgages is 2.81%,
                        • The average amount issued per mortgage is €129,003: an increase of 13.5% vs last year.
                        • 27,518 mortgages were issued -31.6% vs last year.
                        • 3,5 € Bn of mortgages issued for housing in January 2021, -22.4% vs last year.

         

        The top 3 regions with the biggest increases for the number of mortgages issued (Monthly):
                        • Navarra, +63% to 458 mortgages
                        • Balears, +27% to 643 mortgages
                        • La Rioja, +24.4% to 153 mortgages
        The top region in terms of amounts of mortgages issued (Annual)
                        • Cantabria, 40m€, +0%
                        • Catalonia, 758m€, -7%
                        • Castilla y Leon, 126m€, -9%

      • The Spanish mortgage rates situation for December 2020

                        • Average mortgage has an interest rate of 2.53%
                        • The lowest rate ever was 2.44% reached in Nov 2020!
                        • The average mortgage duration is 24 years
                        • 51.6% have variable interest rates
                        • 48.4% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.20%,
                        • The average rate for fixed-rate mortgages is 2.97%,
                        • The average amount issued per mortgage is €135,658: an increase of 9.2% vs last year.
                        • 26,128 mortgages were issued -14.8% vs last year.
                        • 3,5 € Bn of mortgages issued for housing in December 2020, -7% vs last year.

         

        The top 3 regions with the biggest increases for the number of mortgages issued (Monthly):
                        • Cantabria, +9.3% to 354 mortgages
                        • Extremadura, +4.8% to 551 mortgages
                        • Aragon, +0.2% to 862 mortgages
        The top region in terms of amounts of mortgages issued (Annual)
                        • Aragon, 111m€, +62%
                        • Castilla y Leon, 118m€, + 38%
                        • Galicia, 123m€, +34%

      • The Spanish mortgage rates situation for November 2020

                        • Average mortgage has an interest rate of 2.45%
                        • The lowest rate ever was 2.44% reached in Nov 2020!
                        • The average mortgage duration is 24 years
                        • 52.6% have variable interest rates
                        • 47.4% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.05%,
                        • The average rate for fixed-rate mortgages is 2.86%,
                        • The average amount issued per mortgage is €136,676: an increase of 5.5% vs last year.
                        • 28,756 mortgages were issued +2.4% vs last year.
                        • 3,9 € Bn of mortgages issued for housing inNovember 2020, +3% vs last year.

         

        The top 3 regions with the biggest increases for the number of mortgages issued (Monthly):
                        • Pais Vasco, +19% to 1729 mortgages
                        • Cantabria, +16% to 324 mortgages
                        • Catalonia, +15% to 4711 mortgages
        The top region in terms of amounts of mortgages issued (Annual)
                        • Castilla – La Mancha, 115m€, +32%
                        • Aragon, 97m€, +31%
                        • Galicia, 104m€, +21%

      • The Spanish mortgage rates situation for October 2020

                        • Average mortgage has an interest rate of 2.47%
                        • The lowest rate ever was 2.44% reached in Nov 2020!
                        • The average mortgage duration is 25 years
                        • 51.1% have variable interest rates
                        • 48.9% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.19%,
                        • The average rate for fixed-rate mortgages is 2.85%,
                        • The average amount issued per mortgage is €134,900: an increase of 4.6% vs last year.
                        • 28,248 mortgages were issued -5.9% vs last year.
                        • 3,8 € Bn of mortgages issued for housing in October 2020, -1.6% vs last year.

         

        The top 3 regions with the biggest increases for the number of mortgages issued (Monthly):
                        • Castilla y Leon, +28% to 1226 mortgages
                        • La Rioja, +26% to 179 mortgages
                        • Navarra, +21% to 332 mortgages
        The top region in terms of amounts of mortgages issued (Annual)
                        • Extremadura, 40m€, +29%
                        • Aragon, 93m€, +23%
                        • Asturias, 46m€, +19%

      • The Spanish mortgage rates situation for September 2020

                        • Average mortgage has an interest rate of 2.44%
                        • The lowest rate ever was 2.44% reached in Nov 2019!
                        • The average mortgage duration is 24 years
                        • 51.5% have variable interest rates
                        • 48.5% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.12%,
                        • The average rate for fixed-rate mortgages is 2.84%,
                        • The average amount issued per mortgage is €135,035: a decrease of 1% vs last year.
                        • 26,878 mortgages were issued 18.4% vs last year.
                        • 3,6 € Bn of mortgages issued for housing in September 2020, +17.2% vs last year.

         

        The top 3 regions with the biggest increases for the number of mortgages issued:
                        • Madrid, +66% to 5,077 mortgages
                        • Balearic Islands, +63% to 823 mortgages
                        • Catalonia, +42.4% to 3,968 mortgages
        The top region in terms of amounts of mortgages issued
                        • Extremadura, 51m€, +220%
                        • La Rioja, 13m€, +106%
                        • Cantabria, 39m€, +106%
                        • Asturias, 55m€, +105%

      • The Spanish mortgage rates situation for August 2020

                        • Average mortgage has an interest rate of 2.49% (vs 2.54% last month)
                        • The lowest rate ever was 2.47% reached in Nov 2019!
                        • The average mortgage duration is 24 years
                        • 50.6% have variable interest rates
                        • 49.4% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.18%,
                        • The average rate for fixed-rate mortgages is 2.87%,
                        • The average amount issued per mortgage is €134,700: an increase of 4% vs last year.
                        • 19,825 mortgages were issued -3% vs last year.
                        • 3,7 € Bn of mortgages issued for housing in August 2020, +0.5% vs last year.

         

        The top 3 regions with the biggest increases for the number of mortgages issued:
                        • Navarra, +32% to 286 mortgages
                        • Castilla – La Mancha, +15% to 981 mortgages
                        • Cantabria, +12% to 279 mortgages
        The top region in terms of amounts of mortgages issued
                        • La Rioja, 15m€, +145%
                        • Canarias, 126m€, +91%
                        • Castilla – La Mancha, 94m€, +49%
                        • Extremadura, 33m€, +34%

        1. The Spanish mortgage rates situation for July 2020

                          • Average mortgage has an interest rate of 2.54% (vs 2.49% last month)
                          • The lowest rate ever was 2.47% reached in Nov 2019!
                          • The average mortgage duration is 23 years
                          • 47.5% have variable interest rates
                          • 52.5% have fixed interest rates
                          • The average rate for variable rate mortgages is 2.27%,
                          • The average rate for fixed-rate mortgages is 2.86%,
                          • The average amount issued per mortgage is €132,346: an increase of 8.9% vs last year.
                          • 26,014 mortgages were issued -23% vs last year.
                          • 3,4 € Bn of mortgages issued for housing in July 2020, -16% vs last year.

           

          The top 3 regions with the biggest increases for the number of mortgages issued:
                          • La Rioja, +51% to 202 mortgages
                          • Canarias, +45% to 1,221 mortgages
                          • Valencian community, +31% to 3,341 mortgages
          The top region in terms of amounts of mortgages issued
                          • Basque Country, 282m€, +33%

        The Spanish mortgage rates situation for June 2020

                        • Average mortgage has an interest rate of 2.5% (vs 2.49% last month)
                        • The lowest rate ever was 2.47% reached in Nov 2019!
                        • The average mortgage duration is 23 years
                        • 54% have variable interest rates
                        • 46% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.11%,
                        • The average rate for fixed-rate mortgages is 2.96%,
                        • The average amount issued per mortgage is €131,670: an increase of 7.5% vs last year.
                        • 26,748 mortgages were issued -13% vs last year.
                        • 3,5 € Bn of mortgages issued for housing in June 2020, -6% vs last year.

         

        The top 3 regions with the biggest increases for the number of mortgages issued are (monthly changes):
                        • Basque Country, +129% to 2,811 mortgages
                        • Extremadura, +79% to 562 mortgages
                        • Murcia, +59% to 798 mortgages

         

        The top regions in terms of amounts of mortgages issued are (change vs 1 year ago):
                        • Basque Country, 366m€, +95%
                        • Extremadura, 45m€, +85%
                        • Murcia, 68m€, +57%

         

        The Spanish mortgage rates situation in May 2020

        Best mortgage conditions in Spain?

                        • Average mortgage has an interest rate of 2.49% (vs 2.48% last month)
                        • The lowest rate ever was 2.47% reached in Nov 2019!
                        • The average mortgage duration is 23 years
                        • 50.5% have variable interest rates
                        • 49.5% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.11%,
                        • The average rate for fixed-rate mortgages is 3%,
                        • The average amount issued per mortgage is €127,145: an increase of 3.2% vs last year.
                        • 25,538 mortgages were issued -27% vs last year.
                        • 3.2 € Bn of mortgages issued for housing in May 2020, -29% vs last year.

         

        The top regions with the biggest increases for the number of mortgages issued are (monthly changes):
                        • Andalusia, +6.8% to 5,580 mortgages
                        • Basque Country, +6.5% to 1,221 mortgages
                        • Galicia, +6.4% to 820 mortgages

         

        The top region in terms of amounts of mortgages issued are (change vs 1 year ago):
                        • Murcia, 56.8 M€, +22%

         

        The Spanish mortgage rates situation in April 2020

        Best mortgage conditions in Spain?
                        • Average mortgage has an interest rate of 2.48% (vs 2.56% last month)
                        • The lowest rate ever was 2.47% reached in Nov 2019!
                        • The average mortgage duration is 24 years
                        • 48.4% have variable interest rates
                        • 51.6% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.13%,
                        • The average rate for fixed-rate mortgages is 2.86%,
                        • The average amount issued per mortgage is €125,300: an decrease of 1.2% vs last year.
                        • 23,840 mortgages were issued -18% vs last year.
                        • 3 € Bn of mortgages issued for housing in April 2020, -19% vs last year.

         

        The 3 regions with the biggest decreases for the number of mortgages issued are (monthly changes):
                        • Andalusia, +6.8% to 5,580 mortgages
                        • Basque Country, +6.5% to 1,221 mortgages
                        • Galicia, +6.4% to 820 mortgages

         

        The top region in terms of amounts of mortgages issued are (change vs 1 year ago):
                        • Murcia, 56.8 M€, +22%

         

        The Spanish mortgage rates situation in March 2020

        Best mortgage conditions in Spain?
                        • Average mortgage has an interest rate of 2.56%
                        • The lowest rate ever is 2.47% reached in November 2019!
                        • The average mortgage duration is 23 years
                        • 47% have variable interest rates
                        • 53% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.21%,
                        • The average rate for fixed-rate mortgages is 2.92%,
                        • The average amount issued per mortgage is €127,888: an increase of 1.6% vs last year.
                        • 26,382 mortgages were issued -15% vs last year.
                        • 3.4 € Bn of mortgages issued for housing in March 2020, -13% vs last year.

         

        The top region with the biggest increases for the number of mortgages issued are (monthly changes):
                        • La Rioja, +44% to 254 mortgages

         

        The top 3 regions in terms of amounts of mortgages issued are (change vs 1 year ago):
                        • Aragon, 93 M€, +48%
                        • Asturias, 57 M€, +24%
                        • Cantabria, 34M€, +8%

         

         

        The Spanish mortgage rates situation in February 2020

        Best mortgage conditions in Spain?
                        • Average mortgage has an interest rate of 2.64% (vs 2.55% last month)
                        • The lowest rate ever is 2.47% reached in November 2019!
                        • The average mortgage duration is 23 years
                        • 62% have variable interest rates
                        • 37% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.47%
                        • The average rate for fixed-rate mortgages is 3.02%

         

        The 3 regions with the biggest decreases for the number of mortgages issued are (monthly changes):
                        • Navarre, -45% to 373 mortgages
                        • Asturias, -38% to 694 mortgages
                        • Canary Islands, -31% to 1.035 mortgages

         

        The top 3 regions in terms of amounts of mortgages issued are (change vs 1 year ago):
                        • Catalonia, 2.378 M€, +200%
                        • Andalusia, 1.109 M€, +57%
                        • Aragon, +30%

         

        The Spanish mortgage rates situation in January 2020

        Best mortgage conditions in Spain?
                        • Average mortgage has an interest rate of 2.55% (vs 2.53% last month)
                        • The lowest rate ever is 2.47% reached in November 2019!
                        • The average mortgage duration is 22 years
                        • 58% have variable interest rates
                        • 42% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.22%
                        • The average rate for fixed-rate mortgages is 3.05%
        The top 3 regions with the biggest increases for the number of mortgages issued are (monthly changes):
                        • Balearic Islands, +144% to 1.494 mortgages
                        • Asturias, +134% to 1.120 mortgages
                        • Castilla y Leon, +111% to 1.884 mortgages

         

        The top 3 regions in terms of amounts of mortgages issued are (change vs 1 year ago):
                        • La Roja, 20 M€, +84%
                        • Navarre, 71 M€, +75%
                        • Balearic Islands, +74%

         

        The Spanish mortgage rates situation in December 2019

        Best mortgage conditions in Spain?
                        • Average mortgage has an interest rate of 2.53% (vs 2.47% last month)
                        • The average mortgage rate decreased by 5% vs 1 year ago
                        • The lowest rate ever is 2.47% reached in November 2019!
                        • The average mortgage duration is 23 years
                        • 56% have variable interest rates
                        • 44% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.2%, 9.1% less than 1 year ago
                        • The average rate for fixed-rate mortgages is 3.06%, 2.6% more than 1 year ago
        The top 3 regions with the biggest increases for the number of mortgages issued are (monthly changes):
                        • Castilla – La Mancha, +97% to 1.952 mortgages
                        • Canary Islands, +55% to 1.824 mortgages
                        • Madrid, +23% to 6.787 mortgages

         

        The top 3 regions in terms of amounts of mortgages issued are (change vs 1 year ago):
                        • Castilla – La Mancha, 143 M€, +137%
                        • Madrid, 1.114 M€, +57%
                        • Canary Islands, +54%

         

        The Spanish mortgage rates situation in November 2019

        Best mortgage conditions in Spain?
                        • Average mortgage has an interest rate of 2.47% (vs 2.5% last month)
                        • The average mortgage rate decreased by 6.1% vs 1 year ago
                        • The lowest rate ever is the current rate 2.47%!
                        • The average mortgage duration is 24 years
                        • 57.3% have variable interest rates
                        • 42.7% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.15%, 12.1% less than 1 year ago
                        • The average rate for fixed-rate mortgages is 3.01%, 0.3% more than 1 year ago
                        • The average amount issued per mortgage is €129,800: a decrease of 2.1% vs last year.
                        • 29,416 mortgages were issued -0.5% vs last year.
                        • 3.8 € Bn of mortgages issued for housing in October 2019, -0.9% vs last year.

         

        The top 3 regions with the biggest increases for the number of mortgages issued are (monthly changes):

        All the regions noticed a month on month decrease

        Here are the most noticeable regions:

                        • Extremadura, +26.4% to 526 mortgages
                        • Cantabria, +13.6% to 376 mortgages
                        • Valencia Community, +12.8% to 3614 mortgages

         

        The top 3 regions in terms of amounts of mortgages issued are (change vs 1 year ago):
                        • Extremadura, 48 M€, +72%
                        • Balearic Islands, 200 M€, +37%
                        • Cantabria, 43 M€, +36%

         

        The Spanish mortgage rates situation in October 2019

        Best mortgage conditions in Spain?
                        • Average mortgage has an interest rate of 2.50% (vs 2.51% last month)
                        • The average mortgage rate decreased by 5% vs 1 year ago
                        • The lowest rate ever is the current rate 2.50%!
                        • The average mortgage duration is 24 years
                        • 54.7% have variable interest rates
                        • 45.3% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.09%, 11.2% less than 1 year ago
                        • The average rate for fixed-rate mortgages is 3.02%, 1.4% less than 1 year ago
                        • The average amount issued per mortgage is €129,000: a decrease of 2.1% vs last year.
                        • 29,691 mortgages were issued -1.1% vs last year.
                        • 3.8 € Bn of mortgages issued for housing in September 2019, -1.1% vs last year.

         

        The top 3 regions with the biggest increases for the number of mortgages issued are (monthly changes):

        All the regions noticed a month on month decrease

        Here are the most noticeable regions:

                        • La Rioja, +127% to 186 mortgages
                        • Extremadura, +92% to 416 mortgages
                        • Cantabria, +80% to 331 mortgages

         

        The top 5 regions in terms of amounts of mortgages issued are (change vs 1 year ago):
                        • Madrid, 936 M€, -12%
                        • Catalonia, 788 M€, -12%
                        • Andalusia, 660 M€, +8%
                        • Valencia Community, 327 M€, +20%
                        • Basque Country, 235 M€, +20%

         

        The Spanish mortgage rates situation in September 2019

                        • Average mortgage has an interest rate of 2.51% (vs 2.55% last month)
                        • The average mortgage rate decreased by 3% vs 1 year ago
                        • The lowest rate ever is the current rate 2.51%!
                        • The average mortgage duration is 24 years
                        • 63.4% have variable interest rates
                        • 36.6% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.13%, 9.3% less than 1 year ago
                        • The average rate for fixed-rate mortgages is 3.16%, 2.5% less than 1 year ago
                        • The average amount issued per mortgage is €135,452: a increase of 5.3% vs last year.
                        • 22,488 mortgages were issued -29.9% vs last year.
                        • 3 € Bn of mortgages issued for housing in August 2019, -29.9% vs last year.

         

        The top 3 regions with the biggest increases for the number of mortgages issued are (monthly changes):
                        • Navarre, +50% to 328 mortgages
                        • Madrid, +47% to 4,708 mortgages
                        • Castilla La Mancha, +26% to 897 mortgages

         

        The top 5 regions in terms of amounts of mortgages issued are (change vs 1 year ago):
                        • Madrid, 936 M€, -27%
                        • Catalonia, 545 M€, -28%
                        • Andalusia, 463 M€, -29%
                        • Valencian Community, 255 M€, -29%
                        • Basque Country, 203 M€, -21%

         

        The Spanish mortgage rates situation in August 2019

                          • Average mortgage has an interest rate of 2.55% (vs 2.56% last month)
                          • The average mortgage rate decreased by 3% vs 1 year ago
                          • The lowest rate ever is the current rate 2.55!
                          • The average mortgage duration is 23 years
                          • 60.7% have variable interest rates
                          • 39.3% have fixed interest rates
                          • The average rate for variable rate mortgages is 2.21%, 3.2% less than 1 year ago
                          • The average rate for fixed-rate mortgages is 3.18%, 1.5% more than 1 year ago
                          • 20,385 mortgages were issued -29.9% vs last year.
                          • The average amount issued per mortgage is €128,501: a increase of 5% vs last year.
                          • 2,6 € Bn of mortgages issued for housing in August 2019, -29.9% vs last year.

         

        The top 3 regions with the biggest decreases for the number of mortgages issued are (monthly changes):

         

                        • La Rioja, -72% to 74 mortgages
                        • Extremadura, -57% to 279 mortgages
                        • Castilla La Mancha, -53% to 714 mortgages

         

        The top 3 regions with the biggest decreases in terms of amounts of mortgages issued are (yearly change):
                        • La Rioja, -65% to 6m issued
                        • Extremadura, -56% to 23m issued
                        • Canariasa, -45% to 66m issued

         

        The Spanish mortgage rates situation in July 2019

                        • Average mortgage has an interest rate of 2.56% (vs 2.57% last month)
                        • The average mortgage rate decreased by 1.2% vs 1 year ago
                        • The lowest rate ever is the current rate 2.56!
                        • The average mortgage duration is 23 years
                        • 58.1% have variable interest rates
                        • 41.9% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.14%, 7.3% less than 1 year ago,
                        • The average rate for fixed-rate mortgages is 3.16%, 2.8% less than 1 year ago,
                        • The average amount issued per mortgage is €121,414: a decrease of 2,5% vs last year.
                        • 33,344 mortgages were issued +13.1% vs last year.
                        • 6,3 € Bn of mortgages issued for housing in July 2019, +15.2% vs last year.

         

        The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):

        For a first time since long, all the regions suffer a month on month negative growth. The one with the smallest decreases are

                        • La Rioja, +79.3% to 269 mortgages
                        • Castilla La Mancha, +44% to 1,508 mortgages
                        • Asturias, +37% to 671 mortgages

         

        The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
                        • Extremadura, +45.9% to 652 mortgages
                        • Castilla La Mancha, +38% to 1,508 mortgages
                        • Castilla y Leon, +33.9% to 1,430 mortgages

         

        The Spanish mortgage rates situation in June 2019

                        • Average mortgage has an interest rate of 2.57% (vs 2.62% last month)
                        • The average mortgage rate decreased by 3% vs 1 year ago
                        • The lowest rate ever is 2.57!
                        • The average mortgage duration is 24 years
                        • 55.5% have variable interest rates
                        • 44.5% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.29%, 6.1% less than 1 year ago,
                        • The average rate for fixed-rate mortgages is 3.01%, 1.3% less than 1 year ago,
                        • The average amount issued per mortgage is €119,964: a increase of 3,7% vs last year.
                        • 29,900 mortgages were issued -2.5% vs last year.
                        • 3,6 € Bn of mortgages issued for housing in May 2019, -6.1% vs last year.
        The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):

        For a first time since long, all the regions suffer a month on month negative growth. The one with the smallest decreases are

                        • Region of Murcia, -2.6% to 824 mortgages
                        • Community of Navarra, -4.5% to 383 mortgages
                        • Basque country, -5.2% to 1,703 mortgages

         

        The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
                        • Community of Valencia, +16.9% to 3,748 mortgages
                        • Region of Murcia, +12% to 824 mortgages
                        • Basque country, +9.3% to 1,703 mortgages

         

         

        The Spanish mortgage rates situation in May 2019

                        • Average mortgage has an interest rate of 2.59% (same as last month)
                        • The average mortgage rate decreased by 2.9% vs 1 year ago
                        • The lowest rate ever is 2.57!
                        • The average mortgage duration is 24 years
                        • 56.8% have variable interest rates
                        • 43.2% have fixed interest rates (+6.7% vs last year)
                        • The average rate for variable rate mortgages is 2.3%, 5.1% less than 1 year ago,
                        • The average rate for fixed-rate mortgages is 3.09%, 1.8% less than 1 year ago,
                        • The average amount issued per mortgage is €124,700: a increase of 3.9% vs last year.
                        • 29,032 mortgages were issued -0.1% vs last year.
                        • 3.6 € Bn of mortgages issued for housing in April 2019, +0.6% vs last year.
        The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):
                        • Community of Navarra, +45.3% to 510 mortgages
                        • Aragon, +19.7% to 814 mortgages
                        • Asturias, +11.9% to 556 mortgages

         

         

        The Spanish mortgage rates situation in March 2019

                        • Average mortgage has an interest rate of 2.62% (same as last month)
                        • The average mortgage rate decreased by 2.3% vs 1 year ago
                        • The lowest rate ever is 2.57!
                        • The average mortgage duration is 24 years
                        • 58.1% have variable interest rates
                        • 41.9% have fixed interest rates (+24.5% vs last year)
                        • The average rate for variable rate mortgages is 2.34%, 2.7% less than 1 year ago,
                        • The average rate for fixed-rate mortgages is 3.11%, 1.6% more than 1 year ago,
                        • The average amount issued per mortgage is €125,341: a increase of 3.9% vs last year.
                        • 30,716 mortgages were issued + 9.2% vs last year.
                        • 3.8 € Bn of mortgages issued for housing in March 2019, +20.3% vs last year.
        The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):
                        • The Balearic Islands, +47% to 1,159 mortgages
                        • Andalusia, +17% to 6,069 mortgages
                        • Extremadura, +14% to 503 mortgages

         

        The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
                        • The Balearic Islands, +49% to 1,159 mortgages
                        • Extremadura, +36% to 503 mortgages
                        • Murcia, +31% to 503 mortgages

         

         

        The Spanish mortgage rates situation in February 2019

                        • Average mortgage has an interest rate of 2.62% (vs 2.57% last month)
                        • The average mortgage rate decreased by 1.1% vs 1 year ago
                        • The current rate: 2.62% is close to the lowest rate ever of 2.57!
                        • The average mortgage duration is 23 years
                        • 58.2% have variable interest rates
                        • 41.8% have fixed interest rates (+17.4% vs last year)
                        • The average rate for variable rate mortgages is 2.37%, 4% less than 1 year ago,
                        • The average rate for fixed-rate mortgages is 3.05%, 0.4% more than 1 year ago,
                        • The average amount issued per mortgage is €123,911: a increase of 2.9% vs last year.
                        • 31.018 mortgages were issued + 9.2% vs last year.
                        • 3.8 € Bn of mortgages issued for housing in February 2019, +12.3% vs last year.
        The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):

        After a seasonally slower December, January looks even stronger vs December:

                        • Asturias, +24.9% to 728 mortgages
                        • Catalonia, +8.4% to 5.448 mortgages
                        • Pais Vasco, + 2.9% to 1.713 mortgages

         

        The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
                        • Asturias, +56% to 728 mortgages
                        • Castilla – La Mancha, +43% to 1.321 mortgages
                        • La Rioja, + 39% to 241 mortgages

         

        The 6 regions with the biggest growth on the full year 2018

                        • The Valencian Community, +15.7% to 38.004 mortgages
                        • The Community of Madrid, +14.9% to 65.503 mortgages
                        • Castilla – La Mancha, +14.8% to 12.501 mortgages
                        • La Rioja, +13.5% to 2.332 mortgages
                        • The Community of Navarre, +13.4% to 4.615 mortgages
                        • Catalonia, +13% to 57.477 mortgages
                        • Extremadura, +12.3% to 5.550 mortgages

         

        The 4 most active regions in 2018

        No surprises, we keep the same regions as the most active ones in terms of transactions:

                        • The Community of Madrid, 65.503 mortgages with a growth of 14.9%
                        • The Andalusia, 65.431 mortgages with a growth of 8.6%
                        • Catalonia, 57.477 mortgages with a growth of 14.9%
                        • The Valencian Community, 38.004 mortgages with a growth of 15.7%

         

         

        The Spanish mortgage rates situation in January 2019

                        • Average mortgage has an interest rate of 2.57% (vs 2.62% last month)
                        • The average mortgage rate decreased by 4.3% vs 1 year ago
                        • The current rate: 2.57% is the lowest rate ever!
                        • The average mortgage duration is 22 years
                        • 62.8% have variable interest rates
                        • 37.2% have fixed interest rates (+9.1% vs last year)
                        • The average rate for variable rate mortgages is 2.32%, 8% less than 1 year ago,
                        • The average rate for fixed-rate mortgages is 3.09%, 1.6% more than 1 year ago,
                        • The average amount issued per mortgage is €121,036: a decrease of -0.7% vs last year.
                        • 36.832 mortgages were issued + 22.5% vs last year.
                        • 4.4 € Bn of mortgages issued in January 2019, +21.6% vs last year.

         

        The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):

        After a seasonally slower December, January looks even stronger vs December:

                        • Madrid Community, +168% to 10.478 mortgages
                        • Castilla – La Mancha, +101% to 1.485 mortgages
                        • Extremadura, + 76% to 542 mortgages

         

        The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
                        • Madrid Community, +105% to 10.478 mortgages
                        • Castilla – La Mancha, +25% to 1.485 mortgages
                        • Aragón, + 17% to 910 mortgages

         

        The Spanish mortgage rates situation in December 2018

                        • Average mortgage has an interest rate of 2.62% (vs 2.61% last month)
                        • The average mortgage rate decreased by 3.9% vs 1 year ago
                        • The lowest rate ever is 2.57%!
                        • The average mortgage duration is 24 years
                        • 58.6% have variable interest rates
                        • 41.4% have fixed interest rates (+9.1% vs last year)
                        • The average rate for variable rate mortgages is 2.42%, 4.7% less than 1 year ago,
                        • The average rate for fixed-rate mortgages is 2.98%, 4.8% less than 1 year ago,
                        • The average amount issued per mortgage is €126,394: an increased of 9.4% vs last year.
                        • 20.933 mortgages were issued + 0.9% vs last year.
                        • 2.6 € Bn of mortgages issued in December 2018, +10.4% vs last year.

         

        The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):

        All the regions had a negative growth. Of course December is well known for being less busy all over the world.

         

        The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
                        • The Basque Country, +20.1% to 1.333 mortgages
                        • The Valencian Community, +17.3% to 2.456 mortgages
                        • Catalonia, +12% to 3.390 mortgages

         

        The Spanish mortgage rates situation in November 2018

                        • Average mortgage has an interest rate of 2.61% (vs 2.57% last month)
                        • The average mortgage rate decreased by 5.7% vs 1 year ago
                        • The lowest rate ever is 2.57%!
                        • The average mortgage duration is 23 years
                        • 64% have variable interest rates
                        • 36% have fixed interest rates (+25.9% vs last year)
                        • The average rate for variable rate mortgages is 2.42%, 0.7% less than 1 year ago,
                        • The average rate for fixed-rate mortgages is 3.07%, 14.1% less than 1 year ago,
                        • The average amount issued per mortgage is €130,651: an increased of 5.5% vs last year.
                        • 28.835 mortgages were issued + 14.2% vs last year.
                        • 5.6 € Bn of mortgages issued in November 2018, +13.7% vs last year.

         

        The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):
                        • The Canary Islands, +39.4% to 1.299 mortgages
                        • The Balearic Islands, +17.8% to 899 mortgages
                        • Asturies, +4.7% to 532 mortgages

         

        The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
                        • The Canary Islands, +28.6% to 1.299 mortgages
                        • Catalonia, +25% to 5.363 mortgages
                        • The Valencian Community, +24.4% to 3.178 mortgages

         

        The Spanish mortgage rates situation in October 2018

                        • Average mortgage has an interest rate of 2.57% (vs 2.59% last month)
                        • The average mortgage rate decreased by 4.3% vs 1 year ago
                        • The lowest rate ever is 2.57%! YES, the current rate!
                        • The average mortgage duration is 24 years
                        • 60.4% have variable interest rates
                        • 39.6% have fixed interest rates (+25.9% vs last year)
                        • The average rate for variable rate mortgages is 2.43%, 2.9% less than 1 year ago,
                        • The average rate for fixed-rate mortgages is 2.99%, 3.7% less than 1 year ago,
                        • The average amount issued per mortgage is €126,926: an increased of 4.6% vs last year.
                        • 30.356 mortgages were issued + 20.4% vs last year.
                        • 5.8 € Bn of mortgages issued in October 2018, +13.9% vs last year.
        The top 3 regions with the biggest growth for the number of mortgages issued are (monthly changes):
                        • Navarra Community, +21.6% to 472 mortgages
                        • Catalonia, +10.7% to 5.808 mortgages
                        • Castilla y Leon, +4.8% to 1.153 mortgages
        The top 3 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
                        • Navarra Community, +53.7% to 472 mortgages
                        • Catalonia, +40.7% to 5.808 mortgages
                        • Aragon, +36.8% to 729 mortgages

         

        The Spanish mortgage rates situation in September 2018

                        • Average mortgage has an interest rate of 2.59% (vs 2.62% last month)
                        • The average mortgage rate decreased by 8.3% vs 1 year ago
                        • The lowest rate ever is 2.59%!
                        • The average mortgage duration is 24 years
                        • 59.9% have variable interest rates
                        • 40.1% have fixed interest rates (+16.7% vs last year)
                        • The average rate for variable rate mortgages is 2.36%, 10.8% less than 1 year ago,
                        • The average rate for fixed-rate mortgages is 3.02%, 5.9% less than 1 year ago,
                        • The average amount issued per mortgage is €127,732: an increased of 4.1% vs last year.
                        • 32.457 mortgages were issued + 9.5% vs last year.
                        • 6.6 € Bn of mortgages issued in September 2018, +10% vs last year.
        The top 4 regions with the biggest growth for the number of mortgages issued are (monthly changes):
                        • Valencian Community, +32.5% to 3.863 mortgages
                        • Madrid, +30.6% to 6.530 mortgages
                        • Murcia, +21.5% to 866 mortgages
                        • Catalonia, +18.4% to 5.246 mortgages
        The top 4 regions with the biggest growth in terms of amounts of mortgages issued are (yearly change):
                        • La Rioja, +123%
                        • Extremadura, +54%
                        • The community of Navarre, +37%
                        • Madrid, +28%

         

        The Spanish mortgage rates situation in August 2018

                        • Average mortgage has an interest rate of 2.62% (vs 2.59% last month)
                        • The average mortgage rate decreased by 4.3% vs 1 year ago
                        • The lowest rate ever is 2.59%!
                        • The average mortgage duration is 24 years
                        • 59.8% have variable interest rates
                        • 40.2% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.43%, 5.5% less than 1 year ago,
                        • The average rate for fixed-rate mortgages is 2.99%, 3.1% less than 1 year ago,
                        • The average amount issued per mortgage stands at €122,424, an increased of 9.8% vs last year.
                        • 28.755 mortgages were issued + 6.8% vs last year.
                        • 5.4 € Bn of mortgages issued in August 2018, +11% vs last year.

         

        The top 4 regions with the biggest growth for the number of mortgages issued are:
                        • Extremadura, +31% to 604 mortgages
                        • The Canary Islands, +19,6% to 1.396 mortgages
                        • Cantabria, +16,4% to 326 mortgages
                        • Madrid, +13,9% to 5.000 mortgages

         

        The top 4 regions with the biggest growth in terms of amounts of mortgages issued are:
                        • Extremadura, +61%
                        • Madrid, +29%
                        • Andalusia, +28%
                        • Basque country, +24%

         

        The Spanish mortgage rates situation in July 2018

                        • Average mortgage has an interest rate of 2.59% (vs 2.63% last month)
                        • Average mortgage rate decreased by 6.3% vs 1 year ago
                        • The lowest rate ever is 2.59%! YES, the current rate reached this month!
                        • Mortgage duration is 22 years
                        • 62.3% have variable interest rates
                        • 37.7% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.32%, 7.3% less than 1 year ago,
                        • The average rate for fixed-rate mortgages is 3.07%, 5.7% less than 1 year ago,
                        • The average amount issued per mortgage stands at €125,120, an increased of 2.1% vs last year.
                        • 29.287 mortgages were issued + 14.6% vs last year.
                        • 3.6 € Bn of mortgages issued in July 2018, +17% vs last year.

         

        The top 4 regions with the biggest growth for the number of mortgages issued:
                        • Extremadura, +38.9% to 457 mortgages.
                        • The Valencian Community, +28.1% to 3.276 mortgages
                        • La Rioja, +28.1% to 283 mortgages
                        • Madrid, +27,5% to 5.713 mortgages

         

        The top 4 regions with the biggest growth in terms of amounts of mortgages issued:
                        • La Rioja, +77.3%
                        • The region of Murcia, +43%
                        • Cantabria, +39.8%
                        • The Valencian Community, +39%

         

        The Spanish mortgage rates situation in June 2018

                        • Average mortgage has an interest rate of 2.63%
                        • Average mortgage rate decreased by 6.8% vs 1 year ago
                        • The lowest rate ever is 2.62% reached in March 2018
                        • Mortgage duration is 23 years
                        • 62.9% have variable interest rates
                        • 37.1% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.19%, 11.3% less than 1 year ago,
                        • The average rate for fixed-rate mortgages is 3.25%, 0.5% more than 1 year ago,
                        • The average amount issued per mortgage stands at €123,896, an increased of 5.1% vs last year.
                        • 30.600 mortgages were issued + 3.9% vs last year.

         

        The top 3 regions with the biggest mortgages growth:
                        • Madrid, +23,2% to 6.399 mortgages,
                        • Aragon, +10.6% to 957 mortgages,
                        • Extremadura, +18.4% to 616 mortgages.

         

        The Spanish mortgage rates situation in May 2018

                        • Average mortgage has an interest rate of 2.63%
                        • Average mortgage rate decreased by 4.3% vs 1 year ago
                        • The lowest rate ever was 2.62% in March 2018
                        • Mortgage duration is 22 years
                        • 61.9% have variable interest rates
                        • 38.1% have fixed interest rates
                        • The average rate for variable rate mortgages is 2.4%, 9.8% less than 1 year ago,
                        • The average rate for fixed-rate mortgages is 3.12%, 6.6% more than 1 year ago,
                        • The average amount issued per mortgage stands at €117,044, an increased of 2.8% vs last year.
                        • 31.166 mortgages were issued + 7.3% vs last year.

         

        While the top 4 regions in terms of annual growth were:
                        • The Canary Islands, +70,9% to 1.984 mortgages,
                        • Extremadura, +18.5% to 570 mortgages,
                        • Pais Vasco, +18.4% to 1.783 mortgages,
                        • Navarra, +17.3% to 441 mortgages

         

        Check the Spanish report from the INE.

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

        Stéphane

        Senior analyst and strategist at HTBIS

        Check the full HTBIS team here

 

 

The post What are the best Spanish mortgage rates? December 2024 update appeared first on How to buy in Spain.

]]> https://howtobuyinspain.com/en/buy-property-in-spain/spanish-mortgage-rates/spanish-mortgage-rates-2024/feed/ 1 Get the best mortgage rate <em><a href="https://howtobuyinspain.com/en/home/?lang=enen/mortgage-in-spanish/" target="_blank" rel="noopener noreferrer">Get the best mortgage rate in Spain</a></em> Your Mortage calculator Your Mortgage calculator Spanish mortgage rates were on huge sale How to get the best rates as a non-resident. How to get the best rates as a non-resident. Loan to value for Spanish mortgages Spanish mortgages with a loan to value higher than 80 percent Current financing rates for Spanish banks Average mortgage size in Spain Spanish Mortgages issued vs properties sold up to 2023 Spanish Mortgages issued with Variable Rates vs Fixed Rates Spanish mortgage rates March 2024 Average mortgage length in Spain Nice walking street in Spain Stéphane co-founder of HTBIS The Ultimate Spanish Mortgage Guide: Learn how to apply and secure the best rates https://howtobuyinspain.com/en/buy-property-in-spain/spanish-mortgage-rates/spanish-mortgage/ https://howtobuyinspain.com/en/buy-property-in-spain/spanish-mortgage-rates/spanish-mortgage/#respond Sat, 25 Mar 2023 07:59:11 +0000 https://howtobuyinspain.com/?p=18991 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   Your definitive guide to your Spanish mortgage How to get the best rates? Many foreigners think that because it is a second home and

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Your definitive guide to your Spanish mortgage

How to get the best rates?

Many foreigners think that because it is a second home and that because they are not Spanish that they can’t get a mortgage. In fact you can get a mortgage but they are certain rules we will explain so that you get all our tips before applying. Thanks to those tips and our partners, you will get the best rates available on the market.

Here is the table of content of this extended article, don’t hesitate to jump directly to the desired section.

Have a quick look at our 2-minutes 30 seconds video if you prefer videos, otherwise continue reading.


 

    1. How much can you borrow for your Spanish mortgage?

      For your second residence and as a non-fiscal resident, a bank will finance no more than 70 % of the value of your property. We call this the “Loan to Value” (LTV: i.e.: the amount of mortgage you can get divided by the value of your property before tax), but this % is only for good inquiry. This means that you would need to invest at least
      45% of the property value with your own pocket.

      How did we found this percentage? 45% = 100% + 15% costs for buying the property – 70% of mortgage!

      If you go for a LTV lower than 60%, most of the time, the bank will show more flexibility. In 2016, Mortgages issued in Spain had a LTV of 64% and only 15% had a LTV higher than 80%. Have a look at our table with up to date information on Returns, mortgages and short term and long term rates on the Spanish market.

      If you read our article on bank properties for sale in Spain, you will be aware that there could be exceptions to this… if you buy a property from a bank… 😉

       

    2. What are the documents requested for a Spanish mortgage?

       

    3. What are the different steps of the application process for your Spanish Mortgage?

      1. Set-up the credit profile of the customer and fill the mortgage request (see section 2)
      2. Formal pre-approval of the mortgage by the bank risk department
      3. Sending of the mortgage offer to the customer
      4. Opening of bank account if the offer is accepted.
      5. The client must send an appraisal provision.
      6. The bank orders the valuation of the property and gets the approval of the mortgage.
      7. Sending of the official mortgage offer.
      8. The bank arranges completion with the client or legal representative in Spain.

       

    4. Which customers will get the best mortgage rates?

      You have to ask yourself this question: What is the ideal customer for a bank?The bank will take a risk, the risk of not being repaid and in this case the bank will need to take legal action to control your property and will sell it afterwards on the market. We saw what happened after the financial crisis of 2008: thousands of properties finished in the hands of the banks as owners couldn’t pay their mortgages.

      The ideal customer for a bank:

      • has good professional profile: he is employed and has a stable nice income stream,
      • has a good credit report, he has not too many debts vs his income,
      • can afford to have debts: his debt to income ratio is under 35 %, which means that his monthly net income is 3 times bigger than his monthly debts repayments,
      • the property has a good resale value:
        1. the property price is correct vs the market
        2. there is demand in the market for such a property
      • is coming from an OECD countries, as you know, with anti-laundering laws that came into effect all over Europe, it is very difficult for banks to give a loan to resident of certain countries. Of course, if you are a resident of the European Union, it will be the easiest.

       

    5. How to get the best rate on your Spanish mortgage as a foreigner?

      At howtobuyinSpain.com, you are in good hands, we work with a mortgage broker (read next item for more on that) who asks the best mortgage prices to all the Spanish banks. Depending on your profile, certain banks will be more aggressive and others won’t be.Our mortgage partner, knows that and they will go to the best bank, or will ask quotes to many Spanish banks in order to get you the best quote. They work with all the biggest Spanish banks: BBVA, Bankia, Santander,…

       

      Click on the image bellow and fill the quick form in order to get a free mortgage quote.

       

       

    6. What is a mortgage broker?

      A mortgage broker is a financial professional who is helping their clients to find a home loan.

      The role of the mortgage broker is to assist the home buyer with the application process.

      • Gather information about the client’s need regarding his home loan
      • Help to create the financial profile of the customer
      • Help to establish the customer borrowing capacity
      • Gather information from banks about mortgage conditions
      • Suggest the best borrowing options according to his profile
      • Match the customer needs with the best corresponding bank products

       

    7. Why a mortgage broker will get you the best mortgage quote?

      You don’t have to work with a mortgage broker, you can directly ask a mortgage to a bank but there are many advantages of working with a mortgage broker:

      • He has the knowledge and the expertise
      • He works with many banks
      • He knows which banks will have the best offers according to your financial profile/project
      • He knows which banks are most aggressive at a certain time
      • He knows which banks are most active in a certain region
      • He will manage the process and the paperwork
      • He will improve the odds of your mortgage request being approved if your profile is close to the “no go”
      • He knows the Spanish regulation
      • He speaks your language,… you don’t need to speak Spanish
      • One contact… many bank offers…

       

    8. What rate should you take for your mortgage? Variable or Fixed?

      There are a wide range of mortgages available

      Most of the banks provide a wide range of mortgage: variable, mixed and fixed rate. Due to the current rate environment, with short-term rates, Euribor, close to 0% and long-term rates very low, borrowers are taking the opportunity to get long-term rates at fixed prices. Before more than 90% of mortgages were issued as variable, nowadays this percentage is lower and 60% of the newly issued mortgages are issued with variable rates while 30% of newly issued mortgages are issued with fixed rates.

       

      Read or detailed article on that subject: How do I choose between fixed and variable rates for a mortgage?

       

    9. What are the current mortgages conditions in Spain?

      Check our article update monthly with the most recent mortgage interest rates in Spain.

      Updated as of November 2021

      Please note that the mortgage cost is an average. In general, foreigners will get higher rates due to the fact that their assets and incomes are not in Spain but in their home country.

      It is always interesting to check the financing conditions for banks:

      You can always find all those data up to date on our table: “Returns and mortgage rates in Spain“

       

    10. Check our ultimate mortgage calculator to price your own mortgage

      and you will be able to calculate everything for your personal project:

      • What are your monthly payments?
      • What is your mortgage schedule?
      • What is your maximum property budget?
      • How much mortgage can I afford in my Spanish home?
      • How much money do I need to buy my Spanish second home?
      • What is the minimum down payment you will need to have to buy your Spanish property?

       

      What is the cost of a €100,000 mortgage over 10 years?

      If you want to go into the details, here is a calculation example we did:As you will see, if you take a mortgage of €100.000 on 10-year with a rate of 3.5%, your monthly payment to reimburse your mortgage will be €989.

      Thanks to our Spanish mortgage rate calculator, you can change any number and calculate your monthly reimbursments depending on your own situation.

       

      Summary table of your monthly reimbursements for a €100.000 Mortgage

       

       

       

    11. What are your real estate investment returns in Spain?

      As of November 2021

       

      You can always find all those data up to date on our table: “Returns and mortgage rates in Spain” and read our last article on the subject: “What is your return on your real estate investment in Spain?“

       

    12. What is the activity on the Spanish mortgage market in 2020?

      333.721 mortgages issued in 2020

      In 2020, 333.721 mortgages were issued. This is a 7.6% decrease vs 2019. You should compare that to the number of properties sold in 2020 of 487.000, which means, in our opinion, that the market is not over leveraged. Have a quick look at the table for statistics since 2014. Yes we are far from the high leverage situation we had in 2007.

      Follow this link to read our detailed article on the mortgage activity in Spain.

       

    13. Are you buying a property in Spain as an investment?

      Buy to let?

      Our best tip: Don’t forget to take the mortgage when you buy, not after, if you want to reduce the taxes on your rental income thanks to your mortgages costs. So, taking a mortgage will increase your net yield. Of course, take only a mortgage that you could afford even if you have financial problems.

       

    14. Looking for a qualitative new build project from reliable developers?

      Discover the best new build projects in Spain available right now

      € 320,000
      2 beds 1 bath 61.3 m²
      € 313,000
      2 beds 2 baths 61.3 m²
      € 540,000
      3 beds 3 baths 191 m²
      € 520,000
      3 beds 2 baths 109 m²
      € 345,000
      2 beds 2 baths 97 m²
      € 435,000
      3 beds 2 baths 114 m²
      € 350,000
      3 beds 2 baths 106 m²
      € 273,000
      2 beds 2 baths 83 m²
      € 368,000
      3 beds 2 baths 103 m²
      € 315,000
      2 beds 2 baths 90 m²
      € 245,000
      2 beds 2 baths 83 m²
      € 335,000
      3 beds 2 baths 98 m²
      € 250,000
      2 beds 2 baths 90 m²
      € 420,000
      2 beds 2 baths 81.7 m²
      € 475,000
      3 beds 2 baths 101.9 m²
      € 490,000
      3 beds 2 baths 119.8 m²
      € 540,000
      3 beds 2 baths 129.2 m²
      € 530,000
      3 beds 2 baths 106.9 m²
      € 370,000
      2 beds 2 baths 88.9 m²
      € 440,000
      3 beds 2 baths 106.9 m²
      € 367,000
      3 beds 3 baths 177 m²
      € 262,000
      3 beds 2 baths 84 m²
      € 242,000
      2 beds 2 baths 72 m²
      € 277,000
      2 beds 2 baths 73 m²
      € 255,000
      3 beds 2 baths 85 m²
      € 220,000
      2 beds 2 baths 71 m²
      € 240,000
      2 beds 2 baths 80 m²
      € 280,000
      3 beds 2 baths 88 m²
      € 585,000
      3 beds 3 baths 162 m²
      € 348,000
      3 beds 2 baths 220 m²
      € 355,000
      3 beds 2 baths 100 m²
      € 385,000
      2 beds 2 baths 76 m²
      € 325,000
      3 beds 2 baths 97 m²
      € 269,000
      2 beds 2 baths 81 m²
      € 631,000
      3 beds 2 baths 123 m²
      € 345,000
      2 beds 2 baths 154 m²
      € 430,000
      3 beds 2 baths 116 m²
      € 730,000
      3 beds 2 baths 149 m²
      € 529,000
      3 beds 2 baths 133 m²
      € 319,000
      2 beds 2 baths 87 m²

     

    Our other resources on that subject

     

     

    Infographic the 8 steps to your spanish property

     

    FAQ on mortgages in Spain

    Can I get a Spanish mortgage?

    It is very easy to get a mortgage in Spain. What are the documents requested?

    1.Your Passport / ID for all the applicants

    2. Your NIE: “Número de identificación fiscal para extranjeros” or Foreign Resident’s Tax Number.

    3. Last 3 paychecks with the contract of employment Proof of incomes/Contract

    4. A view on your assets and debts

    5. If it’s a new building: the “Deed for new building”

    6. The private sale-purchase contract

    7. If you have a mortgage at home, land registry information on the property and the mortgage

    8. If pensioners: Official proof of annual income.

     

    Read our detailed article on that

    Can foreigners get a mortgage in Spain?

    Yes, foreigners can get a mortgage up to 70% of the Value of a property.

    How long does it take to get a Spanish mortgage?

    About 6 weeks. Although, we have to say that since the new law got into effect in August 2019, there is a new 'cooling-off' period of 10 days, so this increases a little bit the timing for getting a mortgage.

    Do I need a Spanish bank account to buy a property in Spain?

    The obvious answer is yes. You want to finance a property in Spain, you will have taxes, utilities, ... Get it right away. In order to open your bank account, you will need a NIE, see our news on that.

    How much can I borrow for a mortgage in Spain?

    For your second residence and as a non-fiscal resident, a bank will finance no more than 70 % of the value of your property. If you include 15% of costs, this means that you would need to invest at least 45% of the property value with your own pocket.

    What are the costs of buying a house in Spain?

    The cost of buying a resale or a newbuild in Spain is between 12 and 15%. Please read our full article on that subject.

    What is the interest rate in Spain?

    As of October 2019, the average mortgage has an interest rate of 2.50% (vs 2.51% last month). The lowest rate ever is the current rate 2.50%! Read our dedicated article on that subject with the last available data.

     

     

    Looking for a mortgage? A lawyer? A property hunter in Spain? Ask us directly, we have a solution within our network!

     

     

     

     

     

    Stéphane

    Senior analyst and strategist at HTBIS

    Check the full HTBIS team here

 

The post The Ultimate Spanish Mortgage Guide: Learn how to apply and secure the best rates appeared first on How to buy in Spain.

]]> https://howtobuyinspain.com/en/buy-property-in-spain/spanish-mortgage-rates/spanish-mortgage/feed/ 0 %%title%% %%page%% Learn how to buy a property in Spain with a Spanish mortgage. Our guide covers everything you need to know. Get expert advice now. Bank Properties,Foreigners,Mortgage,Spanish Mortgage Mortgage quote for your Spanish property approved-1049259_1920 Your Mortage calculator Your Mortgage calculator Infographic the 8 legal steps to your spanish property The 9 steps to your Spanish property Stéphane co-founder of HTBIS What is the real cost of buying a Property in Spain in 2023? https://howtobuyinspain.com/en/buy-property-in-spain/cost-of-buying-your-spanish-property/ https://howtobuyinspain.com/en/buy-property-in-spain/cost-of-buying-your-spanish-property/#respond Wed, 15 Feb 2023 06:16:15 +0000 https://howtobuyinspain.com/?p=3530 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     Congratulations, you found your Spanish dream property! What is the cost of buying a property in Spain? First question is: Is it a

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Congratulations, you found your Spanish dream property!

What is the cost of buying a property in Spain?

First question is:

  • Is it a new-build property?
  • Is it a resale?

Depending on your answer the cost will be slightly different but a good rule of thumb is 14%.

 

 

  1. The cost of buying a New-build property in Spain: +/- 14%

    • VAT =10%
    • Property registration fees = 1.5%
    • Lawyer between 1 and 2%:
    • Other costs: Notary, stamps,…

     

    The cost of buying a newbuild property in Spain

    The cost of buying a new build property in Spain

     

     

  2. The cost of buying a Resale property in Spain: will be between 10 and 14%

    • Transfer Tax = 6 to 10% at the general tax rate (but you have reduced rates in certain cases). This amount depends on which Spanish region this property is located.
    • Property registration fees = 1.5%
    • Lawyer between 1 and 2%
    • Other costs: Notary, stamps,…

     

    The cost of buying a resale property in Spain

    The cost of buying a resale property in Spain

    Don’t miss What is the legal due diligence for your Spanish property?

    Do you need a property lawyer or a tax advisor to assist you in Spain? Find a Spanish property lawyer in our network.

     

  3. Other costs to take into account

    • Banking costs: Usually a percentage of the amount wired + cost of holding an account
      • This could be very important if you don’t have a Euro account and need to convert your currency like Pound, Dolar, Yuan, Shekel, Ruble,… up to 3%
      • Our Tip: You have companies specialized in wiring funds internationally working with segregated accounts at the major international banks:

     

    1. You can lock a currency level

    => you will know the commission BEFORE wiring the money

    => you will know the level at which you will convert your currency in Euros BEFORE wiring the money

    => you will know the exact amount you need to wire in your local currency BEFORE wiring the funds

    2. You wire the money in your currency

    3. The company will wire the money in Euros in Spain on your Spanish account (Don’t forget your NIE, read our earlier paper on that) , your lawyer account,…

     

     

    • Mortgage costs:
      • Bank valuation of the property = +/- 750€
      • Mortgage deed = +/- 750€

 

If you want to check the monthly cost of your mortgage, or what is your purchasing power for a Spanish property, check our ultimate mortgage calculator!

Related Your definitive guide to your Spanish mortgage. How to get the best rates?

Do you want to find the best Spanish mortgage rates? Fill this quick form and ask our partner for a quote

 

  • Real Estate agent fee: Here is the good news you were waiting for: the seller is paying this one 😉 in general.

Before buying, you want to know what is the annual cost of owning a property in Spain? Read our paper on this subject.

All those information are from reliable sources. We advise you to check those with your fiscal and legal agent in order to get all those costs up to date and adjusted to your specific situation.

 

Is the cost of living in Spain higher than in your home country?

 

Have a look at our detailed article and study on the subject.

If you are living in UK, here is our dedicated article: Cost of living in Spain vs UK.

 

Have a look at our detailed property buyers guides custom made for any nationality

Here are our FREE pdf property buyers’ guides written for all the foreign nationalities looking to buy in Spain: Click on your country flag, you will find your pdf report at the end of each article. Get most of our tips there.

 

Do you want to start searching immediately?

 

Discover the best new build projects in Spain available right now
€ 320,000
2 beds 1 bath 61.3 m²
€ 313,000
2 beds 2 baths 61.3 m²
€ 540,000
3 beds 3 baths 191 m²
€ 520,000
3 beds 2 baths 109 m²
€ 345,000
2 beds 2 baths 97 m²
€ 435,000
3 beds 2 baths 114 m²
€ 350,000
3 beds 2 baths 106 m²
€ 273,000
2 beds 2 baths 83 m²
€ 368,000
3 beds 2 baths 103 m²
€ 315,000
2 beds 2 baths 90 m²
€ 245,000
2 beds 2 baths 83 m²
€ 335,000
3 beds 2 baths 98 m²
€ 250,000
2 beds 2 baths 90 m²
€ 420,000
2 beds 2 baths 81.7 m²
€ 475,000
3 beds 2 baths 101.9 m²
€ 490,000
3 beds 2 baths 119.8 m²
€ 540,000
3 beds 2 baths 129.2 m²
€ 530,000
3 beds 2 baths 106.9 m²
€ 370,000
2 beds 2 baths 88.9 m²
€ 440,000
3 beds 2 baths 106.9 m²
€ 367,000
3 beds 3 baths 177 m²
€ 262,000
3 beds 2 baths 84 m²
€ 242,000
2 beds 2 baths 72 m²
€ 277,000
2 beds 2 baths 73 m²
€ 255,000
3 beds 2 baths 85 m²
€ 220,000
2 beds 2 baths 71 m²
€ 240,000
2 beds 2 baths 80 m²
€ 280,000
3 beds 2 baths 88 m²
€ 585,000
3 beds 3 baths 162 m²
€ 348,000
3 beds 2 baths 220 m²
€ 355,000
3 beds 2 baths 100 m²
€ 385,000
2 beds 2 baths 76 m²
€ 325,000
3 beds 2 baths 97 m²
€ 269,000
2 beds 2 baths 81 m²
€ 631,000
3 beds 2 baths 123 m²
€ 345,000
2 beds 2 baths 154 m²
€ 430,000
3 beds 2 baths 116 m²
€ 730,000
3 beds 2 baths 149 m²
€ 529,000
3 beds 2 baths 133 m²
€ 319,000
2 beds 2 baths 87 m²

 

 

Don’t know where to buy? Start with our general article: Everything you ever wanted to know about the top 20 Spanish real estate markets

 

1. Best Professionals 2. Follow up 3. Competitive pricing 4. Partners 5. Qualitative Check

Get your insights right to your mailbox? Register for our newsletter!

 

Our Tip: Don’t forget all our checklists before buying your property:

Our reports on how to buy a property in Spain

Finally, if you want more, check our very useful infographic: The 9 legal steps to your Spanish property

 

Infographic the 8 steps to your spanish property

 

FAQ on the Cost of buying a property in Spain

Is buying property in Spain a good idea?

Spain is the number one country in Europe for holidays. It is 10% cheaper than Europe. Of course real estate is cheap as well and you have 320 days of sun. Read our article: 10+ reasons for buying a property in Spain.

How much is property purchase tax in Spain?

The cost of buying a property in Spain is between 10 and 15% depending on if it is a resale or a new build and where the property is located. Read our article for more on that.

Can I get residency in Spain if I buy a house?

In order to get residency in Spain, there are certain conditions attached to it (income, activity, nationality,...) So if you want to live in Spain and work in Spain, check with a lawyer. The Golden Visa could be the way to go as well. Read our article on that.

Do I need a Spanish bank account to buy a property in Spain?

The obvious answer is yes. You want to finance a property in Spain, you will have taxes, utilities, ... Get it right away. In order to open your bank account, you will need a NIE, see our news on that.

 

Looking for a property lawyer in Spain? Follow the link and get one of our local lawyer.

Looking for another real estate expert in Spain: Mortgage, Insurance, Survey of property, Property hunting, …? Ask us directly one of our 100+ local partner!

 

 

 

 

 

 

Stéphane

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

 

 

The post What is the real cost of buying a Property in Spain in 2023? appeared first on How to buy in Spain.

]]> https://howtobuyinspain.com/en/buy-property-in-spain/cost-of-buying-your-spanish-property/feed/ 0 Costs of buying a newbuild property in Spain Costs of buying a resale property in Spain Get the best Euro rate Mortgage in Spain Cost of living for worldwide cities gbunitedkingdomflag_111699 degermanyflag_111762 nlnetherlandsflag_111906 Russia China Sweden Morocco Italy Belgium Belgium France Romania 5 Reasons to work with our experts in Spain 1. Best Professionals 2. Follow up 3. Competitive pricing 4. Partners 5. Qualitative Check Our reports on how to buy a property in Spain Infographic the 8 legal steps to your spanish property The 9 steps to your Spanish property Stéphane co-founder of HTBIS How do I choose between fixed and variable rates for a mortgage? https://howtobuyinspain.com/en/buy-property-in-spain/spanish-mortgage-rates/fixed-variable-mortage-rate-spain/ https://howtobuyinspain.com/en/buy-property-in-spain/spanish-mortgage-rates/fixed-variable-mortage-rate-spain/#respond Mon, 01 Nov 2021 20:01:47 +0000 https://howtobuyinspain.com/?p=22409   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   How do I choose between fixed and variable rates for a mortgage? Should I take a mortgage with fixed or variable rates? Fixed-rate

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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

 

How do I choose between fixed and variable rates for a mortgage?

Should I take a mortgage with fixed or variable rates?

Fixed-rate mortgages and variable-rate mortgages are the two main categories of mortgages you can pick. Of course, there are many other possibilities between the two.

Why would you take a fixed-rate mortgage?

A Fixed rate mortgage has the advantage that whatever the market conditions will do in the future, it will remain the same. To get that advantage, you will on average pay a higher rate than on a variable-rate mortgage, for instance, as of August 2021, mortgages with variable rates were issued at rates of 2.11% while those with fixed rates were issued with 2.7% for an average length of 24 years.

As we are writing, end 2021, Inflation rate is exploding in Spain: the level as of end October is 5,5%.

Why would you take a mortgage with a variable rate?

It could be because it is cheaper and because you don’t see inflation or rates going higher or because you are comfortable financially and can face higher rates. Another reason for variable rates to be cheaper is that for the banks issuing them, it matches their sources of funds (saving’s accounts).
So, to conclude, if you want safety, take a fixed-rate mortgage. If you see inflation spiking or interest rates going higher (in general due to a strong economy) you could as well go for a fixed-rate mortgages. Of course, the longer your mortgage is the higher your risk will be.
Don’t hesitate to ask to your Spanish mortgage broker a pricing with both and compare both offers.

November 2021 update

Due to inflation spiking around the world or due to the worldwide economic recovery (expectations), we see that while a year ago mortgages were initiated with variable rates, the trend just changed in 2021 and accelerated end 2021 so that now, 67% of mortgages are issued with fixed rates (as of August 2021). May be some people see a real risk of inflation spiking, which in turn should increase the variable rates.

Check the evolution of the percentage of mortgages with fixed and with variable rates

Are fixed mortgage rates cheaper than variable mortgage rates?

Check the evolution of the mortgage rates (average, fixed and variable )over the last year

Our other resources on “Spanish mortgage rates”

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

Stéphane

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

The post How do I choose between fixed and variable rates for a mortgage? appeared first on How to buy in Spain.

]]> https://howtobuyinspain.com/en/buy-property-in-spain/spanish-mortgage-rates/fixed-variable-mortage-rate-spain/feed/ 0 Stéphane co-founder of HTBIS Your ultimate Spanish mortgage calculator: What is the cost of your Spanish Mortgage? https://howtobuyinspain.com/en/buy-property-in-spain/spanish-mortgage-rates/spanish-mortgage-calculator/ https://howtobuyinspain.com/en/buy-property-in-spain/spanish-mortgage-rates/spanish-mortgage-calculator/#respond Fri, 01 Jan 2021 07:34:16 +0000 https://howtobuyinspain.com/?p=8253   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   Let’s check what are your Mortgage costs for your property   In order to help you with your purchase in Spain, we added

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]]>  

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

 

Let’s check what are your Mortgage costs for your property

 

In order to help you with your purchase in Spain, we added a Mortgage pricer to help you check your financial power.

It will give you your monthly payments for your mortgage, a table of all your monthly payments, a chart of the evolution of your monthly payments…

Of course, you may adjust the calculations with your own data, you can reverse as well some calculation… Don’t hesitate to use it!

Before we jump to a first example, we thought it would be useful to give you a summary table of your fixed monthly payments for your mortgage depending on:

  1. the interest rates (fixed rates of course)
  2. the length of the mortgage

 

Summary table of your monthly reimbursements for a Mortgage of €100.000

€100,000
10 Year
12 Year
14 Year
16 Year
18 Year
20 Year
Rates120 months144 months168 months192 months216 months240 months
1.50%-€898-€759-€660-€586-€529-€483
2.00%-€920-€782-€683-€609-€552-€506
2.50%-€943-€805-€706-€632-€575-€530
3.00%-€966-€828-€730-€656-€600-€555
3.50%-€989-€851-€754-€681-€625-€580
4.00%-€1,012-€876-€778-€706-€650-€606

Starting from this table and if you are in a hurry, it is easy to estimate any mortgage repayment for any amount and any period between 10 and 20 years, adjust accordingly the numbers.

 

 

If you want to go into the details, here is a calculation example we did for a €100.000 mortgage:

As you will see, if you take a mortgage of €100.000 on 10-year with a rate of 3.5%, your monthly payment to reimburse your mortgage will be €989.

 

CLICK either “Calc” or “Payment Schedule” or “Charts” at the bottom of the pricer.

 




	
	









	

	
	


		
		

		

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Here is the data we took for this mortgage:

  • Down Payment: in per cent of the property cost, here we took 50%: this means you are bringing €100.000 of your own money
  • Amount of Loan: €100.000, it is calculated but as you guessed, in this case, it is the Property cost €200.000 minus the Down Payment €100.000
  • Number of Payments? (#): is the number of months you intend to take to reimburse your mortgage, #120
  • Annual Interest Rate?: This is the rate we took: 3.5% for a 10 year mortgage. Check the current mortgage financing conditions in our paper: “The best mortgage rates in Spain in 2020“. Don’t forget that rates are higher for foreigners.
  • Points?: This is the upfront charge for the mortgage, we took 1%
  • Annual Property Taxes?: We took €300
  • Annual Insurance?: We took €150
  • Private Mortgage Ins. (PMI)?: We took 0% (this is mostly done in the US)
  • Payment Method?: You can choose if you pay at the start of at the end of the month, we took the latest.
  • Monthly Payment Amount: The monthly amount you will pay to reimburse the mortgage €988.86
  • Down Payment Amount: The amount you will pay yourself to buy the property.€100.000
  • Total Interest: The total amount you will reimburse during the life of the mortgage. €18.663.19

 

In your Schedule of payments, you will find all the information with some details as:

  • PMI — private mortgage insurance. Could be required if your loan to value (LTV) is more than 80%. That is, your down payment frequently needs to be 20% or more to avoid PMI.
  • Property Taxes — are included in the escrow column on the schedule. Please be sure to enter an annual amount in the calculator.
  • Casualty Insurance — is also included in the escrow column on the mortgage schedule. Again, enter an annual amount.
  • Points — calculated on the loan amount, they are reported in the first row of the schedule.

All the above are optional. That is, you may set them to 0.

 

You can run this simulator to know your monthly payments:

  1. Click clear and enter values for:
    • Loan Amount
    • Number of Payments
    • Annual Interest Rate
  2. Leave “Payment Amount (P & I only)” set to 0.
  3. Click either “Calc” or “Payment Schedule” or “Charts” to see the monthly evolution of your mortgage or “Clear” to input your own data

 

You can use this calculator to answer such questions as:

  • How much mortgage can I afford?

Most of the time, banks will give you a mortgage with a monthly reimbursement of maximum 33% of your net income, check our earlier paper “Your definitive guide to your Spanish mortgage” for more on that.

  • What is the mortgage payment?

The pricer allows you to have a detailed payment schedule.

  • How much money do I need to buy a house?

In general, a quick guess is at least 50% of the value of the property, check the explanation of the calculation for the down payment.

  • What is the down payment on a house?

Most of the time, the bank will require a down payment of 30% and in addition to that, you will have to pay the taxes and some costs, take another 15% and eventually some works & refurbishment. So, all in all, you will have to pay at least 45% (if no works and no refurbishment)… a little more if repair works and refurbishment. For more on that, read our paper on “Your definitive guide to your Spanish mortgage”

 

Do you want a mortgage quote in Spain? We have a very strong partnership with one of the biggest Mortgage broker in Spain. Click on this picture and read more/fill the form for a quote.

 

 

For more information on the mortgage pricer, you could want to read the comments from the developer.

 

Here is our FAQ on Spanish mortgage calulator

What do you need for a Spanish mortgage?

It is very easy to get a mortgage in Spain. What are the documents requested?

1.Your Passport / ID for all the applicants

2. Your NIE: “Número de identificación fiscal para extranjeros” or Foreign Resident’s Tax Number.

3. Last 3 paychecks with the contract of employment Proof of incomes/Contract

4. A view on your assets and debts

5. If it’s a new building: the “Deed for new building”

6. The private sale-purchase contract

7. If you have a mortgage at home, land registry information on the property and the mortgage

8. If pensioners: Official proof of annual income.

Read our detailed article for more on that

How much deposit do I need for a Spanish mortgage?

For your second residence and as a non-fiscal resident, a bank will finance no more than 70 % of the value of your property. If you include 15% of costs, this means that you would need to invest at least 45% of the property value with your own pocket.

How long does it take to get a Spanish mortgage?

About 6 weeks. Although, we have to say that since the new law got into effect in August 2019, there is a new 'cooling-off' period of 10 days, so this increases a little bit the timing for getting a mortgage.

What is the interest rate in Spain?

As of October 2019, the average mortgage has an interest rate of 2.50% (vs 2.51% last month). The lowest rate ever is the current rate 2.50%! Read our dedicated article on that subject with the last available data.

 

Our other resources on that subject

 

Looking for a lawyer, fiscal expert, architect, property hunter,… or any expert in Spain? Ask us directly!

Stéphane

Senior Analyst and Strategist at HTBIS

Check the full team of HTBIS here

 

The post Your ultimate Spanish mortgage calculator: What is the cost of your Spanish Mortgage? appeared first on How to buy in Spain.

]]> https://howtobuyinspain.com/en/buy-property-in-spain/spanish-mortgage-rates/spanish-mortgage-calculator/feed/ 0 Get the best mortgage rate <em><a href="https://howtobuyinspain.com/en/home/?lang=enen/mortgage-in-spanish/" target="_blank" rel="noopener noreferrer">Get the best mortgage rate in Spain</a></em> Mortgage in Spain Stéphane co-founder of HTBIS Update on the Spanish Real estate market: Prices Up, Transactions up, Foreigners active, Financing conditions… Which regions are the most sought after? https://howtobuyinspain.com/en/buy-property-in-spain/update-spanish-property-market-2/ https://howtobuyinspain.com/en/buy-property-in-spain/update-spanish-property-market-2/#respond Sat, 23 Sep 2017 09:12:51 +0000 https://howtobuyinspain.com/?p=4137 Automatic translation from Google translate: During the second quarter, house prices in Spain went up 0.16% and 4.4% year-on-year.   The College of Registrars, the office of notary in Spain, has released the last statistics of the Spanish real estate market up to June 2017 in its quarterly report: The

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]]> Automatic translation from Google translate:

During the second quarter, house prices in Spain went up 0.16% and 4.4% year-on-year.

 

The College of Registrars, the office of notary in Spain, has released the last statistics of the Spanish real estate market up to June 2017 in its quarterly report:

  • The prices are rising 4.4% on a year-on-year basis
  • Transactions are increasing by 5%
  • Foreigners remain active (highest level of activity since 2008)
  • British, Germans and Frenchs are the biggest buyers.
  • The Canary Islands are the most sought-after regions by foreigners vs locals.
  • Mortgage conditions remain favourable at 2.27%

During the second quarter, house prices in Spain went up 0.16% and 4.41% year-on-year, it is the tenth quarter in a row with price increases! Prices are still 24% under the levels of 2007 but rebounded by 15% from 2014 lows.

Transactions up 5%

The number of properties sold was just under 120.000, 5% more than on the first quarter. 20.000 properties are new-build.
Real estate transactions in Spain are at the highest level since 2008

Spaniards and Foreigners are very active, both are buying the most since 2008, check this chart:

Yearly data. Source: Ministerio de Fomento

The regions having strong growth rates in terms of sales are the Canary and Balearic Islands (above 17% growth).

Which regions are the most sought-after?

The regions with the biggest number of transactions remain the same:

  • Andalusia, 22.8k
  • Catalonia, 20.1k
  • The Community of Madrid, 18.1k
  • and the community of Valencia. 17.4k

The provinces with the highest number of housing sales are:

  • Madrid, 63,037,
  • Barcelona, 51,010,
  • Alicante, 32,068,
  • Málaga, 28,271,
  • Valencia, 23,644,
  • Baleares, 15,158,
  • Seville, 13,423,
  • Murcia, 12,274,
  • Las Palmas, 10,962,
  • and Tenerife, 10,602.

The provinces with the highest year-on-year increases in housing sales are:

  • Tarragona, 26.6%,
  • Almería, 25.7%,
  • Barcelona, 21.3%,
  • Baleares, 21.1%,
  • and Tenerife, 19.7%.

Foreigners remain active: British, French, and German made the top 3!

Foreigners remain very active with 13% of transactions, i.e. 15.600 properties were bought by foreigners.

  • British remain the biggest buyers with a 14.90% of the properties bought by foreigners,
  • French with 8.5%,
  • Germans with 7.8%,
  • Belgians with 6.4%,
  • Italians with 6.2%,
  • Swedes with 6.2%,
  • Romanians with 4.3%,
  • Chinese with 4.1%,
  • Russian 2.7%,
  • Dutch 2.5%,
  • Norwegian 2.2%

 

Who are the foreigners buying real estate in spain? Infographic

Where do foreigners buy?

Here are the top 4 regions (% bought by foreigners):

  • Canary Islands, 32,2%
  • Balearic Islands, 28.4%
  • Valencian Community 25.5%
  • Region of Murcia 19.2%

Of course, foreigners are buying mainly (more than 90%) in the Mediterranean regions

and the top provinces (% bought by foreigners) :

  • Tenerife (39.72%),
  • Girona (29.39%),
  • Malaga (29.02%),
  • Baleares (28.37%),
  • Las Palmas (24.79%),
  • Murcia (19.18%),
  • Tarragona (15.21%),
  • Almeria (14.74%)
  • and Castellon (14.43%).

Remember our nice infographic with the data of last year:

Where are foreigners buying in spain? Infograhic

Analysis of the financial conditions and the mortgage activity

  • Interest rates were at 2.27% at historical lows!
  • On average, mortgage borrowing was of 1.200€/m² vs 1.188€/m² in Q1,
    • with the highest in Madrid with 1.754€/m²
    • and the lowest in Extremadura 656€/m²
  • On average the mortgage debt per household is €115.769
    • with the highest in Madrid (€ 184,223)
    • and the lowest in the Canary Islands (€ 76,793)
  • 5% of mortgages had a variable rate (Euribor mainly) as reference
  • 5% of mortgages had a fixed rate as reference
  • The average length of a mortgage loan was 23 years and 4 months.
  • The average monthly mortgage charge is €536 (for a is €115.769 mortgage)
  • Which is 28% of a monthly wage
  • There were 6.744 foreclosures in Q2.
  • S

Source: Ministerio de Fomento

Have a look at the full report here in Spanish.

Looking for an expert in Spain? Ask us directly!

 

 

 

 

 

Stéphane

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

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The post Update on the Spanish Real estate market: Prices Up, Transactions up, Foreigners active, Financing conditions… Which regions are the most sought after? appeared first on How to buy in Spain.

]]> https://howtobuyinspain.com/en/buy-property-in-spain/update-spanish-property-market-2/feed/ 0 Infographic Who are foreigners buying in spain Where are foreigners buying in spain? Infograhic Stéphane co-founder of HTBIS An update on the financing and mortgage conditions in Spain https://howtobuyinspain.com/en/buy-property-in-spain/spanish-mortgage-rates/mortgage-statistics-spain-june-2017/ https://howtobuyinspain.com/en/buy-property-in-spain/spanish-mortgage-rates/mortgage-statistics-spain-june-2017/#respond Tue, 05 Sep 2017 05:12:17 +0000 https://howtobuyinspain.com/?p=4027 Translate this page: The “Instituto nacional de Estadisticas”, INE, just released the Mortgage statistics of Spain for the month of June. The number of home mortgages registered in the registers of the property in June increased by 16.5% vs last year to 29,516. Here are a few facts: The average

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]]> Translate this page:

The “Instituto nacional de Estadisticas”, INE, just released the Mortgage statistics of Spain for the month of June.

The number of home mortgages registered in the registers of the property in June increased by 16.5% vs last year to 29,516.

Here are a few facts:

  • The average amount of these mortgages increased by 4.4% since last year and stands at €116,629
  • In housing, borrowed capital is 3,442.4 million, i.e. an annual increase of 21.6%
  • It is a 7% growth between June and May 2017
  • It is a 4% growth if you compare 2017 and 2016 (six first months of the year)

 

What are the mortgages characteristics?

  • They have an average interest rate of 2.68%
  • Their duration is 22 years
  • 65% have variable interest rates
  • 35% have fixed interest rates
  • The average rate for variable rate mortgages is 2.6%
  • The average rate for fixed rate mortgages is 3.2%
  • 7411 property changed conditions in June 2017
    • The one with fixed rate benefited on average from a decrease of 0.7 percent
    • The one with variable rate benefited on average from a decrease of 1.3 percent

 

All the regions benefit from very strong growth rates, up to 60%, for the number of newly issued mortgages apart from 4 regions (on the right on this chart – green line- right axis):

  • Castilla-La Mancha
  • Basque Country
  • Balearic Islands
  • Aragon

 

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!

 

 

 

 

 

Stéphane

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

The post An update on the financing and mortgage conditions in Spain appeared first on How to buy in Spain.

]]> https://howtobuyinspain.com/en/buy-property-in-spain/spanish-mortgage-rates/mortgage-statistics-spain-june-2017/feed/ 0 Mortgage growthrate June17 Stéphane co-founder of HTBIS Where are the Spanish bank properties for sale? https://howtobuyinspain.com/en/buy-property-in-spain/bank-repossessions-spain/spanish-properties-from-banks/ https://howtobuyinspain.com/en/buy-property-in-spain/bank-repossessions-spain/spanish-properties-from-banks/#respond Fri, 14 Apr 2017 18:57:36 +0000 https://howtobuyinspain.com/?p=2704 Translate this page:   In less than six months, this news is one of our top read news, we got more than 3.000 readers very quickly! If you are looking for a property on the Costa Blanca, here is or more recent paper: The last bargain on the Costa Blanca?

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]]> Translate this page:

 

In less than six months, this news is one of our top read news, we got more than 3.000 readers very quickly!

If you are looking for a property on the Costa Blanca, here is or more recent paper: The last bargain on the Costa Blanca? 12.000€ for a Spanish Bank repossession

Have a look at another paper we wrote on the same subject: Where will you find the Bank repossessions in Spain? It will help you to find residential properties, plots of lands, offices and industrial properties.

For financial investors, here is how you could invest on Spanish bank repossessions without buying any yourself: “Are Spanish bank repossessions a good investment opportunity?”

 

So we did the work for you, we regrouped all the Spanish bank portals with a lot of bargains.

Before looking at the list, have a look at our main paper studying the top 20 property markets in Spain:

Everything you ever wanted to know about the top 20 Spanish Cities real estate markets

 

 

Here is the list of all the portals selling bank properties in Spain

 

  • Alisedainmobiliaria is the portal of the fifth biggest bank in Spain, Banco Popular (Santander Group now). The group sold more than 10.000 properties in 2016 for more than €1 860 m.
  • Altamirainmuebles is the portal of Banco Santander, the largest bank in Spain. The group as more than €50bn of assets. You can find all the properties with a map, very useful. Many properties all over Spain.
  • Bankinter is the sixth biggest bank in Spain.
  • BBVA Vivienda or Anida, is the portal of BBVA Vivienda, the real estate subsidiary of Banco Bilbao Vizcaya Argentaria. BBVA is the second biggest bank of Spain. About 6.000 properties, mostly land, commercial properties and offices.
  • Cajamar properties are managed by Haya Real Estate, the portal of Bankia. Bankia is the result of a merger of four smaller banks.
  • Cajasur inmobiliaria is a subsidiary of Bilbao Biskaia Kutxa (BBK) en Aurrezki Kutxa eta Bahitetxea. It has properties from Andalusia to Costa Blanca.
  • Casaktua is the portal of Banco Banesto, the 3rd biggest bank in Spain. In 1997, Banco Santander bought the majority of this bank. In 2016, Aktua was acquired by Lindorff, European player active in Credit management.
  • Grupo Ibercaja is the 8th bank in Spain
  • Haya Real Estate is the portal of Bankia. Bankia is the result of a merger of four smaller banks.
  • Kutxabank inmobiliaria is a Bank created in 2012 from the merger of 3 “Cajas” in the Basque Country.
  • Liberbank properties are managed by Haya Real Estate, the portal of Bankia. Bankia is the result of a merger of four smaller banks.
  • Sareb, as of June 2017, has a portfolio of 39 billion euros, of which 30% is real estate. It received almost 200,000 assets, which were valued at 50 billion euros in two phases. The main tranche was transferred on 31 December 2012 from the four nationalised banks: Bankia, Catalunya Banc, Banco de Valencia and NCG-Banco Gallego. The second transfer was contributed by the four banks that received State funding: Liderbank, BMN, Caja3 and Banco CEISS. Out of all of the assets, 80% are loans and 20% are properties. Sareb’s mission is to divest assets over a period of 15 years while optimising the value of its portfolio. Sareb has a very useful site and you can search on the map very easily by defining your own specific area of search.
  • Servihabitat is the portal from “la Caixa Bank”.
  • Solvia is the portal from Banco Sabadell. It’s the fourth biggest bank in Spain.
  • Unicaja inmuebles is based in Málaga, it is a subsidiary of Unicaja which has a clear leading position in its home regions of Andalusia and Castilla y León.

 

 

We regrouped all those portals in our “useful links” section: Properties for sale by Spanish banks.

If you want to search on a map, Altamira, one of the biggest player did the work: map of Altamira properties in Spain.

Idealista, the biggest portal of real estate in Spain, lists 30 000 properties of Sareb and 16 000 properties for Altamira.

Another good news for those properties is that from time to time you can get up to 100% mortgage (vs the more standard 70%) at very good rates! So now that you found your bank property, have a look at how to negociate the best rates with your Spanish bank 😉 Your Spanish Mortgage: How to apply? How to get the best rates?

So, why not have a look?

If you want other interesting sources for Spanish bank properties for sale, go to our web page regrouping all the real estate websites of the Spanish banks.

Last but not least, if you are about to buy in Spain, read our two very useful articles:

The cost of buying a property in Spain: What is the real cost of buying your Spanish Property?

The cost of owning a property in Spain: What is the real cost of owning your Spanish property?

Get our weekly insights right into your mailbox? Register for our newsletter:

Subscribe to our weekly Newsletter: Benefit of all our work directly in your mailbox!

Looking for a second home? Check our infographic on the second home buyers in Europe:

  1. Who are the second home buyers in Europe?
  2. Why they want a second home?
  3. What are the criteria’s for the ideal home?

 

Who is the Second Home Buyer in Europe? Infographic

 

Find all our news here

All our news

 

Looking for an expert in Spain? Ask us directly!

Stéphane

Senior Analyst and Strategist at HTBIS

Check the full HTBIS team here

The post Where are the Spanish bank properties for sale? appeared first on How to buy in Spain.

]]> https://howtobuyinspain.com/en/buy-property-in-spain/bank-repossessions-spain/spanish-properties-from-banks/feed/ 0 Our full review of the top 20 Spanish real estate markets Our best partners deals in Spain Who is the Second Home Buyer in Europe? Infographic Stéphane co-founder of HTBIS Foreclosures in Spain in 2016 https://howtobuyinspain.com/en/buy-property-in-spain/bank-repossessions-spain/foreclosure-in-spain-in-2016/ https://howtobuyinspain.com/en/buy-property-in-spain/bank-repossessions-spain/foreclosure-in-spain-in-2016/#respond Tue, 07 Mar 2017 07:04:01 +0000 https://howtobuyinspain.com/?p=2017 Translate this page: Annual rate of foreclosure in Spain is 0.3% The total number of registrations for foreclosure initiated in the fourth quarter of 2016 was 18.000 houses. That is what the Instituto Nacional de Estadistica said in its last report. 28.8% decrease vs 2015 For 2016, 73.000 properties were

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]]> Translate this page:

Annual rate of foreclosure in Spain is 0.3%

The total number of registrations for foreclosure initiated in the fourth quarter of 2016 was 18.000 houses. That is what the Instituto Nacional de Estadistica said in its last report.

28.8% decrease vs 2015

For 2016, 73.000 properties were foreclosed, i.e. 0.3% of all the properties existing in Spain. Which is an impressive decrease of 28.8% vs the numbers of 2015.

Finally, if we compare that number to all the mortgages constituted for the period 2003-2015, there was 0.13% of foreclosed mortgages in the Q4 2016.

Most impacted regions

Regions with foreclosure rates above the national average in the fourth quarter of 2016 are: La Rioja 0.27%, Region of Murcia 0.25%, Andalusia 0.17%, community of Navarre 0.17 % and Valencian community 0.17%. Not surprisingly, the statistics are nearly the same for the full year 2016: Region of Murcia 0.89%, Andalusia 0.74% and Valencian community 0.7%.

Foreigners active in the same regions

As you can see on our Infographic: Foreigners are active in all those regions apart from La Rioja and the Community of Navarre. As a reminder, foreigners bought 17% of all transactions during the last year.

 

Where are foreigners buying in spain? Infograhic

 

Want to check what is on the market now?

Do you want to have a look at properties sold by Spanish banks? Check their listings right now here.

You may want to read as well our news on all the portals listing bank properties.

Check the full press release.

Looking for an expert in Spain? Ask us directly!

 

 

 

 

 

Stéphane

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

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]]> https://howtobuyinspain.com/en/buy-property-in-spain/bank-repossessions-spain/foreclosure-in-spain-in-2016/feed/ 0 Where are foreigners buying in spain? Infograhic Stéphane co-founder of HTBIS What is the mortgage rate paid in December in Spain? https://howtobuyinspain.com/en/buy-property-in-spain/spanish-mortgage-rates/mortgage-rate-december-spain/ https://howtobuyinspain.com/en/buy-property-in-spain/spanish-mortgage-rates/mortgage-rate-december-spain/#respond Thu, 02 Mar 2017 07:01:29 +0000 https://howtobuyinspain.com/?p=1913 Translate this page: Mortgage Activity analysis for December 2016 The “Instituto Nacional de Estadistica” just released the activity numbers for December 2016. The number of issued mortgages in Spain rose by 6.9% to just under 21000. The average amount per mortgage was of € 113.000. Analysed on a yearly basis,

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Mortgage Activity analysis for December 2016

The “Instituto Nacional de Estadistica” just released the activity numbers for December 2016. The number of issued mortgages in Spain rose by 6.9% to just under 21000. The average amount per mortgage was of € 113.000.

Analysed on a yearly basis, the number of mortgages increased by 2.8%. Residential mortgages increased by an even stronger growth of 14% to 281.000 for 2016.

Sound practices

If you compare this number with the number of transactions for the last year up to September, this means that there is about one mortgage for every two transactions in Spain and furthermore, the yearly growth of the number of transactions is 11%. So for sure, we can’t talk about aggressive financing practices!

Foreigners active as well

Interesting to note, bought 17% of all properties sold in Spain during the same period. Have a look at our infographic to check where they bought in Spain. Do you want to know why they are buying? Check our analysis of more than 10 reasons here.

Variable interest Rates

68.4% of the new mortgages were created with variable interest rate while only 31.6% with fixed rate. The low Euribor is surely one reason for this, but if you compare to one year ago, the percentage of fixed rate contracts is increasing as some people think that long terms rates have bottomed. The 1 Year Euribor rate remains negative and close to its lowest point ever as of today!

The average mortgage rate is 3.18% for the mortgages issued in December 2016 which is 6% lower than one year ago.

Have a look at other useful information on the financial tables of our website.

Strong positive returns are back

The real estate market in Spain is stronger since the start of 2014 and is back in positive territory. End 2016, the central bank of Spain, “Banco de Espana”, expected the return for residential real estate to be 8.4%. This return is explained nearly equally by rent and capital gains. Read our news we released on that.

To have a complete view on this subject, we advise you to check our news in the next few days and read our mortgage analysis report for the year 2016.

Source: Instituto Nacional de Estadistica, Press release

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Stéphane

Senior analyst and strategist at HTBIS

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