Home repossessions go down in Spain

Image of the forest fire in the Bejis region of Castellon. Credit: [email protected]

REPOSSESSION of properties to be sold after owners failed to pay mortgages in Spain saw a reduction of 5.2 per cent during the first three months of 2015, if compared to the year before.
A total of 30,952 were carried out during this period, of which 29,591 were urban properties and 1,361 rural, according to the data provided by the National Statistics Institute (INE).
Out of the total repossessions, 8,802 properties were the permanent residents of owners, 6.9 per cent fewer than the same period of 2014.
Data indicates that 21.1 per cent of all properties repossessed had mortgages issued in 2007, 15.2 per cent in 2006 and 11.8 per cent in 2008.
Andalucia was the region with the highest number of repossessions (8,948) followed by Catalonia (5,168) and the Valencian Community (4,852).

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