THE number of new mortgages granted in Spain last year was 501,073 – the highest figure for 15 years.
Provisional figures released on Thursday by the National Institute of Statistics (INE) recorded a 17.8% increase on 2024’s total.
Larger numbers were clocked up during the real estate boom between 2004 and 2010, with the one million mark broken annually from 2004 to 2007.
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According to the INE, an average of 41,756 mortgages were signed per month in 2025, outstripping the 35,460 average in 2024.
52,198 mortgages were approved in October – the highest for an individual month since September 2010 which was marginally higher on 53,127.
In May 2025, 42,274 mortgages were signed- a 54.4% increase over 12 months.
Ricard Garriga, CEO of mortgage broker Trioteca, told the El Pais newspaper: “Exceeding 500,000 mortgages puts us back at 2010 levels and confirms that 2025 was a real turning point after a five-year period dominated by high interest rates and lower activity.”
“In 2024, some €61 billion were lent and in 2025 we closed at €82 billion,” he added.
“That’s a 33% increase which means that not only are there more mortgages, but that the amounts financed are higher.”
Broken down into regions, Andalucia had 98,052 mortgages granted, followed by Catalunya(87,011) and Madrid (73,663).
The three regions combined accounted for over half of the country’s new mortgages last year.
The biggest percentage rises compared to 2024 were Cantabria (42.8%), La Rioja (36.99%) and Murcia (28.61%), suggesting that home buyers are looking beyond the more expensive and traditional big city areas.
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