Spain´s mortgage market today

Cash and keys Credit: Images Money, Flickr

Last year, the Euribor rate exceeded four per cent, as the housing prices continued to rise, leading to stagnation in the sector. 

2024, however, appears improved; iAhorro mortgage director, Simone Colombelli, had previously predicted this year to be the one of “recovery” for Spain´s mortgage market.

This year, Fotocasa revealed that from June, the market will be able to see that “access to housing improves as the conditions for access to mortgage credit are lowered.” 

Idealista, for its part, noted that in 2024 “interest rates are beginning to reflect the drop in the Euribor, as well as the greater competition between banks. This strong mortgage war is being fought fundamentally in fixed and mixed mortgages, which continue to dominate the market.”

Throughout the past two years, both clients and banks preferred mixed mortgages to a fixed or variable one, since the rise in the Euribor made variable mortgages more costly.  

Mixed mortgages on the other hand, have a fixed initial period, lasting from three to 15 years and a second variable period until the end of the term, providing a certainty in a remaining fee despite the Euribor rate rise. 

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Written by

Anna Akopyan

Originally from Moscow, with Russian and Armenian origins, Anna has lived in Costa Blanca for over ten years. She is passionate about singing, acting and traveling.


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