Mortgage approvals in the Canary Islands jump 29.1% in December, marking two consecutive months of growth
In the Canary Islands, €184.82 million was lent for new residential mortgages in December, a 51.89 % increase in loan capital compared with a year ago.
The number of mortgages taken out on homes in the Canary Islands grew 29.1 % in December compared with the same month last year (versus a 17.4 % rise nationwide), reaching a total of 1,239 transactions and extending a two‑month streak of growth, according to data from the National Statistics Institute (INE) released on Thursday.
Compared with the previous month, the amount of capital granted for new mortgages fell 21.6 %.
Overall, 1,976 mortgages were signed in the region, with a total capital disbursement of €503.42 million. Of these, 46 were on rural properties and 1,930 on urban ones.
Among the 1,930 urban‑property mortgages signed in December, 1,239 were for residential homes, 11 for building plots and 680 for other types of property.
The number of operations that changed lender (creditor subrogation) was 11, while 69 mortgages saw a change of the property owner (debtor subrogation). Of the 239 mortgages that underwent condition changes, 159 were due to loan renegotiation (novation).
Conversely, 2,770 loans on properties were cancelled in the Canary Islands. These comprised 1,810 residential mortgages, 50 on rural properties, 881 on urban properties and 29 on building plots.
Data by Autonomous Community
- Mortgage signing increased in all regions, led by La Rioja (+35.29 %), Castilla‑La Mancha (+30.61 %) and the Canary Islands (+29.06 %), with the only decline in Asturias (‑4.07 %).
- Loan amounts rose in every community, with the highest jumps in Cantabria (+60.54 %), the Canary Islands (+51.89 %) and Navarra (+46.05 %).
- Conversely, loan growth was modest in Murcia (+7.05 %), Madrid (+20.25 %) and Aragón (+20.29 %).