Balearic home mortgages fall 21.8% as lending grows
In the Balearic Islands, just 769 home mortgages are signed in August, down 21.8% from a year earlier. The number also falls 24.9% from July, according to Spain’s National Statistics Institute.
Yet lenders advance €281.84 million for those August home mortgages — 15.15% more than a year earlier, despite the drop in deals. Compared with July, the amount lent falls 17.3%. Across all types of property and land, the islands record 1,087 new mortgages worth €390.14 million.
Only La Rioja records a steeper annual fall in the number of mortgages, at 27.7%. Madrid’s figure drops 5.85%, while Extremadura records a 41.81% rise. The published figures cover the Balearic Islands as a whole, rather than giving a separate count for Mallorca.
Source: Europa Press / Mallorca.com