Mortgage signing in the Canary Islands drops 32.6%

Mortgage signing in the Canary Islands drops 32.6%

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The housing mortgage firm in the Canary Islands fell 32.6 percent in September compared to the same month of the previous year (compared to a drop of 29.64% at the national level), worsening its interannual evolution, up to a total of 955 operationsaccording to data published by the National Institute of Statistics (INE).

If compared to the previous month, the signed mortgages go back in the autonomous community of the Canary Islands, suffering a drop of 39.09 percent.

In the Canary Islands, 112.61 million were lent of euros for the constitution of mortgages on homes in September, 35.39 percent less of the capital lent than a year ago. Compared to the previous month, the capital borrowed to establish mortgages fell by 29.76 percent.

Taking into account the total number of properties, a total of 1,349 mortgages were established in the region, with a capital outlay of 357.42 million euros. Of them, 37 were on rural properties and 1,312 on urban properties.

Of the 1,312 mortgages constituted on urban properties in September in the Canary Islands, 955 were on homes; 10 in plots and 347 in other types.

The number of operations that changed entity (subrogations to the creditor) was 64 and in six mortgages the owner of the mortgaged property changed (subrogations to the debtor). Of the 386 mortgages with changes in their conditions, 316 were due to novation.

On the contrary, 1,865 loans were canceled about farms in the Canary Islands. Of them, 1,368 corresponded to homes, 55 to rural properties, 426 to urban properties and 16 to plots of land.

Data by CCAA

By autonomous communities, the number of mortgages subscribed fell compared to the previous year in all the autonomous communities, although where it decreased the most was in Murcia (-44.83%), Aragón (-39.01%) and Galicia (-38.23%); while the number of mortgages fell the least in relation to the previous year was in Castilla-La Mancha (-11.83%), the Balearic Islands (-18.82%) and Castilla y León (-20.77%).

As for the amount borrowed, the figure decreased compared to the previous year in all the autonomous communities, with Galicia (-40.50%), Asturias (-40.06%) and Cantabria (-36.62%) leading the way. On the other hand, where the number of mortgages decreased the least in relation to the previous year was in Extremadura (-14.13%), Castilla-La Mancha (-17.09%) and Castilla y León (-18.67%).

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