Canary Mortgage Applications Down In May
The number of mortgages granted in May this year fell to 2,501, an 18.4 per cent drop compared to the same month last year.
According to the latest figures from the National Institute of Statistics, the figure is well above the national average, which fell by just 2.9 per cent to 55,755.
However, compared to April the numbers look far healthier, with the number of mortgages granted up at both local and national level by 8.8 per cent and 10.8 pr cent respectively.
The average amount for new mortgages in the Canaries in May was 93,309 euros, a 6.5 per cent increase on the same period last year.
Again, the Canaries bucking the national trend where the average amount borrowed went down by 4.4 per cent to 114,990.