MADRID (Reuters) – The number of mortgages taken out by Spaniards surged 18.4% in September compared to the same month last year, the National Statistics Institute said on Monday, the first time it increased since the pandemic struck in March.
The increase in mortgages came after real estate agencies started getting enquiries on properties and visits again from June, following a near-standstill for the industry during nearly three months of pandemic lockdown.
Rural and coastal regions like Aragon and Asturias registered 78% and 76% more mortgages respectively year-on-year as people fled urban centres.
The average value of mortgages, however, fell by 1% across the board as reduced buying power and banks’ tightened lending policies shrank the amount buyers were able to take out.
(Reporting by Clara-Laeila Laudette; Editing by Ingrid Melander)
