Home loans in Spain

According to figures released by Spain's National Statistics Institute yesterday, the average amount of morgage loans authorised by Spanish banks rose by 18.1 percent in August (compared to the same month in 2005) and reached 146,762€. The overall value of bank home loans rose by 32.1 percent.

In August a total of 131,180 mortgages were authorised to customers buying rural and urban properties in Spain and the overall value of these mortgages rose to 19,252 million euros.

As usual Spain's savings banks got the biggest share of the home loan market - 53.42 percent - followed by normal banks (36.88 percent) and other lending companies (9.7 percent).

Over ninety percent of mortgage loans corresponded to purchases of properties in the so-called "precio libre" (free price) category and just 9.9 percent to purchases of "protected" properties whose selling price is controlled by the government.

As far as yearly figures are concerned, the number of mortgaged properties in Spain has so far risen by 9.82 percent this year, while the total amount of loans has shot up by 24.87.

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