Home loans in Spain see large falls in October.

Published: 9th September 2013

New data out this week from one of Spain's largest banks has shown considerable falls in the number of new home loans being granted for Spanish property purchases in October. The data, released by the Bank of Spain, showed that the actual amount of home loans granted totalled €2,745m in October 2011, in comparison with €4,484m the year before, a drop of almost 40%.

Despite the drop in figures, there was some positive news for the Spanish property market however, as the October home loans figure also represents the third consecutive monthly increase, by alomst 3% on the previous month. These figures come alongside the recent figures released by TINSA for the Spanish Property Market Index for October, which showed a year on year decrease of 6.9%.

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