Euroresiuk

Homes repossessed in Spain in 2009

Nearly 100,000 homes were repossessed in Spain last year

According to information provided by the Consejo General del Poder Judicial (CGPJ) the economic crisis led to an increase of 59% in house repossessions in 2009 with a total of 93,319 repossessions ordered by Spanish judges compared to 59,137 in 2008.

However, the increase in the number of repossessions last year was much less than that registered in 2008 when repossessions went up by 126.2% compared to 2007.

There were a total of 26,914 repossessions in the last quarter of 2009, a record number since January 2007 and 27% more compared to the previous three quarters.

Aragón was the region with the highest number of repossessions with a growth of 97.6% compared to 2008 followed by La Rioja (75.7%), the Canary Islands (72.6%) and Murcia (68.5%).

Last year the number of homes being repossessed on the orders of Spanish judges as a result of non payment of mortgages rose much more than the numbers predicted by the CGPJ which forecast repossessions to rise to around 76,463 in 2009.