Mortgages already given by 78% of the value of the average floor

Mortgages to buy flats in Spain already financed on average almost 80% of the floor, according to data from the General Council of Notaries. The situation represents a return to the times prior to the bursting of the housing bubble. In February 2014, the share of homes financed with a mortgage is below 74%, but in recent months there has been an escalation in March and -the last of the available statistical notaris- stood at 78.7 %.
The barrier of 80% was set by the Bank of Spain as a measure to avoid risk mortgage banks. Before the crisis came to give mortgages for 100% of the value of the house (and even more), and the loss of value of the apartments, the percentage increase was even more funded. This caused the housing crisis and construction is entrusted to the financial system, as banks began to adjudge floors defaulting mortgages with unpaid credit that exceeds the value of the same property and had to supply.
A few months ago the president of the Association of Promoters and Constructors of Barcelona (PACE), Lluís seas warned that nearly half of new flats in Barcelona, Catalonia and two thirds were pleased with mortgages exceeding the value of 80% floor. Different banks admitted that they were granted this type of mortgage for more than 80% of the value of the property, but basically in cases of homes that sold themselves because they came from the portfolio allotted.
According to the Council of Notaries, the evolution of the mortgage market demonstrates the rise in real estate: the number of credits, the amount of average loans for the construction of housing is financed. In addition, returns to grow the percentage of homes purchased with a mortgage. In January 2007, before the bubble burst, 60% of apartments were bought with a loan of this type. Since then the percentage went down as the crisis progressed and touched lows in July 2014, when only 30% of purchases of property'll use. This percentage has continued to grow since March and already approaching 47%.
More and more value mortgages
The total number of mortgages in Spain in March was 29,642, representing a 4.2% increase over the same month last year. But of all mortgages, which were used to purchase any type of property was 19,611, which means an increase of 16.5%. The increase is even greater in the case of mortgages for home purchase, an increase of 17.1%, while those allocated to the acquisition of other types of properties rose 10.4%.
Therefore, there has been a 17% increase in mortgages for home purchase, but also has also increased the average amount. The average capital of mortgages for the purchase of real estate stood at 134,881 euros, an increase of almost 6%, and in the case of mortgages for home purchase through the capital was 125,265 euros, an increase of 2.7%.
Another phenomenon that can be seen is the increase in the credit to buy real estate, but to build. In March there were 472 loans, which represents an increase of 2.3% year on year, and the average capital stood at 277,491 euros, 7% more. But the increases are more significant in the case of mortgage loans for housing construction, as the average amount stood at 227,583 euros, an increase of 13.7%.
According to statistics of attorney, in March there were 38,674 in state sales transactions housing, which means an increase of 5.8% over the same month of the previous year. Within the sale of flats, the free housing rose 5.2%. The Council of Notaries said that this increase is due only to the sale of second-hand flats, which grew 8.5% over the same month last year, as sales of new apartments fell by 18, 5%, mainly due to lack of product to stop construction.
The new flats are expensive more
As housing sales rose also rose in price. In the case of second-hand flats price stood at 1,361 euros per square meter on average, an increase of 2%, while in the case of new flats the average price rose 10.7% to 1678 euros per square meter.
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