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Foreclosures on Primary Residences Soar by 84% in Year to March

In the first quarter of 2021, there were 3,207 foreclosures on primary residences, the highest figure since 2017 and 84.1% more than in the same period in 2020.

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The number of foreclosures on primary residences stood at 3,207 in the first quarter of 2021, increasing 84.1% compared to the same period in 2020. According to data published on Friday by the National Statistics Institute (INE), this is the highest figure in four years.

With the upturn between January and March this year, the trend that began in 2020 continues, when foreclosures on primary residences grew by 37.4%, putting an end to five years of declines. After falling by 19% in 2019, 39.8% in 2018, 48.3% in 2017, 30.3% in 2016 and 12.6% in 2015.

However, the INE noted that not all foreclosures end with the eviction of their owners.

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