Banks will sign a record 500,000 mortgages for the second year in a row
This is the highest figure since the real estate bubble era, almost twenty years ago, when over a million loans were granted. Bankers believe the market will start to clearly deflate in 2027, due to the rise in interest rates.
The Spanish mortgage market is expected to slow down in 2027 due to rising interest rates. Despite this, the Asociación Hipotecaria Española (AHE) predicts that 2024 will see 500,000 mortgages signed, the highest number in almost 20 years. In the first seven months of the year, 303,000 mortgage applications were approved, a 5.4% increase from the same period last year.
The average mortgage amount has risen to 180,785 euros, a 17,000 euro increase from last year, while the Banco de España claims there is no risk of a housing bubble.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
