Number of mortgages on homes up by 12.2% in 2024, to nearly 74,000

The number of mortgages in Catalonia increased by 12.2% in 2024, to reach a total of 73,828, according to provisional data from the National Statistics Institute (INE).

The average value of each mortgage loan stood at €165,167, up 2.8% compared to the year prior.

Despite the increase, the figure is still far from the 81,068 seen in 2022 or the 243,346 in 2006, the highest ever recorded by the INE.

Comparing December's figures with the same month in 2023, the number of mortgages taken out increased by 27.5%, to a total of 5,161. On the other hand, November saw an annual decline of 24.8%.

The total value of mortgages taken out sums up to €879.7 million, a year-on-year increase of 32.7%.

The average interest rate on home mortgages was 3.25% and the average term was 25 years. Around one-third (36.6%) of deals came with variable interest rates and almost two-in-three (63.4%) were set at a fixed rate.