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ARCHIVED - Another sharp upturn in Murcia property mortgage activity during November
Increased lending lies behind the continuing rise in sales figures the Costa Cálida
Earlier this month statistics were published which showed that property sales in Murcia rose by 1.2 per cent in November, but more data which were made public this Monday show that there was a far more pronounced increase in mortgage activity during the month, with 28.6 per cent more loans being taken out than in November 2018.
The number of new mortgages registered on residential property was 778 (as opposed to 605 in October 2018) and the rise was again the second most significant in the 17 regions of Spain, being surpassed only in Extremadura: the nationwide total fell by 0.5 per cent, with the sharpest decreases being reported in the Balearics and Catalunya, two of the regions where the recovery in the market began earliest.
Back in Murcia, meanwhile, the average loan capital of 78,031 euros was 7.8 per cent lower than in November 2018, although in general this can be a rather volatile statistic in the Region, ranging between 70,000 and 100,000 euros over the last 18 months.
In general terms the figures published over the last few months suggest that the property market is becoming significantly less dynamic in Spain at the moment, but on the other hand in Murcia the signs are still inconclusive: sales figures are still rising in the long-term picture, albeit moderately, while over the first eleven months of 2019 the total for property mortgages rose by 3.8 per cent to 8,269: in Spain as a whole there has been a rise of just 0.18 per cent over the same period.
To view a wide range of properties for sale across Spain consult the Spanish property page.
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