Mortgage activity in Alicante up by 31 per cent in October
13 per cent more mortgages on housing in the Costa Blanca this year than in 2015
Given that the number of residential property sales registered this October in the province of Alicante was 8.5% higher than in the same month last year it is no surprise to report that the number of mortgages taken out also increased, but in fact that increase was far more significant at 30.9%, according to data published on Thursday.
This is the eighth time in the first ten months of 2016 that the year-on-year comparison has shown an increase, and the cumulative year-to-date total is now 9.9% up on 2015 at 9,730.
At the same time, the total loan capital involved in Alicante property mortgages so far this year is 13.5% higher than at the same point in 2015, at 819 million euros, with the average loan capital having risen by 6.8% to 87,950 euros.
The October figures for Spain as a whole show an increase of 16.8% to 22,581 new loans, with the year-to-date total now 13% higher than in October 2015. The most significant October increases among the country’s 17 Autonomous Communities were in Aragón (75.2%) and Asturias (66.9%), while the only year-on-year decreases were those reported in the Basque Country (23.2%), Murcia (16.1%), the Balearic Islands (10.7%) and Galicia (5.5%).