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The Acceleration in Mortgage Signings in December Broke the Negative Trend seen in 2019

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The number of residential mortgages constituted in December amounted to 30,285, which represented an increase of 43.0% with respect to the same period in 2018. This is explained by the notarial lull since June following the entry into force of the Mortgage Act.

Spain’s National Institute of Statistics (INE) has indicated that the rise was due to “the constitution of a number of residential mortgages for a very small number of legal entities”, without specifying more details. The acceleration during the month of Christmas also broke the negative trend that otherwise characterised last year.

In this way, the number of mortgages constituted over homes rose by 2.7% in 2019 with respect to the previous year, to reach 357,720, the highest figure since 2011, according to data released on Thursday by INE.

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