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Last year's stagnation caused by the pandemic in the real estate market is over. Compared to September 2020, the number of mortgages signed for the purchase of real estate has reached more than 5,000 transactions in the Valencian community. This shows an increase of almost 75%.
EUR 528,000,000 were mobilized to activate these mortgage loans, which demonstrates that the average amount of this type of loan is also growing. INE data clarifies that they amount to EUR 143,831,000. This is an indicator that has not been observed in the Spanish real estate market since February 2020. The total amount of borrowed capital amounted to EUR 6,119,500.
Another figure reflected in these data is in the section on the number of mortgage transactions for Spain as a whole. In September, 42,547 mortgage loans of this type were signed. Such indicators have not been observed since March 2011 and are 57.7% more than in the same month of 2020.
As for interest rates, two out of every three home mortgages (65.7%) were signed at a fixed interest rate, and this percentage exceeds 60% for five months.
The average interest rate on home loans was 2.47%, 2.65% for fixed-rate loans and 2.19% for variable-rate loans.
The market growth in the Valencian community is not the highest in Spain. According to the table compiled by INE, this is the fourth autonomous region with the highest percentage growth in mortgage contract signing, after Castile and Leon, Andalusia and Catalonia.