Mortgage credit halved in November 2008
28.01.2009
The financial crisis has further aggravated the paralysis of the Spanish real estate market due to restrictions on mortgage credit, which in November 2008 fell to an all-time low, dropping by 45.8 per cent on the year, with 50,914 loans granted. This was seen in the analysis of relative data released today by the National Institute for Statistics. Also halved was the capital lent for real estate operations, which fell by 51.3 per cent, with EUR 6.7 billion lent.
At the same time, the drop in real estate prices in Spain had repercussions also on the average level of mortgages registered in November 2008, which dropped for the tenth month in a row to EUR 132,103, 10.1 per cent less than the same month the previous year.
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