June saw Spanish mortgage approvals shoot up considerably when compared to last year
Official figures released by Spain’s National Statistics Institute (INE) this week have revealed that mortgage approvals in June rose 19 per cent year-on-year – the biggest monthly increase since March 2006.
Although overall mortgage approval numbers were some way short of the market’s peak in 2006 and 2007, the increase signals a slight cause for optimism for the Spanish property market.
The INE reports that 17,137 mortgages were approved in June, with the average loan amount rising 1.3 per cent to €98,582. In total, €10.7 billion in mortgage loans were signed off in June…