Number of mortages rises in Spain

08:08, May 27, 2010      

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Figures published Wednesday show the number of mortgages granted in Spain rose during the month of March.

The figures, published by the Spanish National Institute of Statistics (INE), show a 2.4 percent rise in mortgages granted to would be homeowners in respect to the same month in 2009.

The INE data shows that the average mortgage to be given was 116,345 euros (143,282 U.S. dollars), a drop of 2.6 percent on 2009. As a result although more loans were granted, the overall quantity of money loaned out was 6,225 million Euros (7,666 million dollars), an overall decrease of 0.3 percent on 2009.

That decline can in part be put down to falling house prices as a result of the economic crisis.

The areas of Spain where the increase in the number of mortgages granted was greater are the Basque Country and Asturias, both in the north of the country, while the central regions of La Rioja and Aragon, saw a fall in the number of mortgages granted.



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