According to a report released today by the Colegio de Registradores de España (the Spanish association of house and land registrars), the average mortgage in Spain (111,351 euros) represents a massive 83% of the total value of the property purchased. The average mortgage in Spain extends for as long as 23.9 years and represents 41.6% of borrowers wages.
This latest report on the Spanish property market says that housing prices in Spain increased by almost 8 % during the first six months of this year, while the total increase for the past 12 months was just over 18%.
The conclusions of this report coincide with figures offered by other recent studies which point to a 14 – 15% overall rise in housing prices in Spain this year.
Related links:
Mortgages for non-residents in Spain
Spanish banks
Property market in Spain
Latest news about the Spanish property market
Source: Cadena Ser
