By Sally Underwood • 28 September 2021 • 13:25
Number of mortgages granted in Malaga crashes by 10%. Image: Wikimedia
In total, just 1,449 mortgages were handed out in Malaga in July, down from the 2,283 granted a month earlier.
According to the National Institute of Statistics, the average amount given by lenders is €152,474, higher than the €111,828 average in Andalucia, and the €135,526 average across Spain.
The 10 per cent drop in Malaga´s mortgages goes against the national trend, where there was growth of 36 per cent to 35,329 loans.
Overall though, the figures show that Malaga´s housing market continues to recover following the pandemic, with 11,284 mortgages were signed off in the province in the first half of this year, 9.4 per cent more than the previous year and similar to the 11,319 mortgages granted in the same period in 2019-
At the national level, the rise from 2020 to 2021 is higher at 14.35 per cent.
The figures also showed that Malaga is the third province in Spain, after Madrid and Barcelona, where the value of operations has risen, to €220 million in July.
Malaga also continues to be one of the biggest areas in the Andalucian housing market at 21 per cent its of mortgage operations.
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Originally from London, Sally is based on the eastern Costa del Sol and is a journalist for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]
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