Press Release: Mortgage Statistics (M). January 2025. Provisional data.

Main results

The number of mortgages constituted on dwellings recorded in the land registries was 38,058, up 11.0% in the annual rate.
The average amount of mortgages on dwellings increased by 11.9%, standing at 152,233 euros.
The average interest rate on new mortgages on dwellings was 3.08%.

More information

Annex of tables (includes information from the Autonomous Communities)
Detailed results (monthly and annual)

The number of mortgages constituted on dwellings was 38,058, 11.0% more than in January 2024. The average amount of these transactions was 152,233 euros, an increase of 11.9%.

The average amount of the mortgages on the total number of properties recorded in the land registries (from previous public deeds) rose by 6.4%.

Mortgages constituted. January 2025

{
  "mode": "table",
  "category": [
    "Total",
    "Variation rate (%)",
    "Monthly",
    "Annual",
    "Interannual accumulated",
    "Properties",
    "Total properties",
    "Number of mortgaged properties",
    "Capital loaned (thousands of euros)",
    "Average amount (euros)",
    "Rustic properties",
    "Urban properties",
    "Dwellings"
  ],
  "ids": [
    "table_1_Total",
    "table_1_Variation_rate",
    "",
    "",
    "",
    "table_1_Monthly",
    "table_1_Annual",
    "table_1_Interannual_accumulated",
    "table_1_Properties",
    "table_1_Total_properties",
    "table_1_Number_of_mortgaged_properties",
    "",
    "",
    "table_1_Capital_loaned_thousands_of_euros",
    "",
    "",
    "table_1_Average_amount_euros",
    "",
    "table_1_Rustic_properties",
    "table_1_Number_of_mortgaged_properties",
    "",
    "",
    "table_1_Capital_loaned_thousands_of_euros",
    "",
    "",
    "table_1_Average_amount_euros",
    "",
    "table_1_Urban_properties",
    "table_1_Number_of_mortgaged_properties",
    "",
    "",
    "table_1_Capital_loaned_thousands_of_euros",
    "",
    "",
    "table_1_Average_amount_euros",
    "table_1_Dwellings",
    "",
    "table_1_Number_of_mortgaged_properties",
    "",
    "",
    "table_1_Capital_loaned_thousands_of_euros",
    "",
    "",
    "table_1_Average_amount_euros"
  ],
  "col": [
    [
      "0",
      ""
    ],
    [
      "1",
      "2"
    ],
    [
      "",
      "3"
    ],
    [
      "",
      "4"
    ]
  ],
  "row": [
    [
      "5",
      "6",
      "7"
    ],
    [
      "",
      "",
      "8"
    ],
    [
      "",
      "",
      "9"
    ],
    [
      "",
      "10",
      "7"
    ],
    [
      "",
      "",
      "8"
    ],
    [
      "",
      "",
      "9"
    ],
    [
      "",
      "11",
      "7"
    ],
    [
      "",
      "",
      "8"
    ],
    [
      "",
      "",
      "9"
    ],
    [
      "12",
      "",
      "7"
    ],
    [
      "",
      "",
      "8"
    ],
    [
      "",
      "",
      "9"
    ]
  ],
  "data": [
    "48,619",
    "16.9",
    "11.4",
    "11.4",
    "8,352,936",
    "9.6",
    "18.4",
    "18.4",
    "171,804",
    "-6.3",
    "6.4",
    "6.4",
    "768",
    "8.3",
    "0.5",
    "0.5",
    "162,579",
    "5.3",
    "19.7",
    "19.7",
    "211,691",
    "-2.8",
    "19.1",
    "19.1",
    "47,851",
    "17.1",
    "11.6",
    "11.6",
    "8,190,357",
    "9.7",
    "18.4",
    "18.4",
    "171,164",
    "-6.3",
    "6.2",
    "6.2",
    "38,058",
    "18.0",
    "11.0",
    "11.0",
    "5,793,680",
    "17.9",
    "24.3",
    "24.3",
    "152,233",
    "-0.1",
    "11.9",
    "11.9"
  ],
  "textLad": [
    "",
    "",
    "",
    "",
    "",
    ""
  ],
  "title": "",
  "leftSideCols": 3,
  "rowsHeader": 2
}

Mortgage interest rate on dwellings

For mortgages on dwellings, the average interest rate was 3.08% and the average term was 25 years. 35.8% of mortgages on dwellings were taken out at a variable rate and 64.2% at a fixed rate.

The average starting interest rate was 2.94% for variable rate mortgages on dwellings and 3.17% for fixed rate mortgages.

Average interest rate on dwellings

Percentage

Mortgages with registration changes

The total number of mortgages with changes in their conditions recorded in the land registries increased by 19.2% in January in the annual rate.

Novations (or modifications with the same financial institution) increased by 10.1% and subrogations to the debtor (changes to the holder) by 649.7%.

In contrast, subrogations to the creditor (change of entity) decreased by 62.8%.

Mortgages with registration changes. January 2025

{
  "mode": "table",
  "category": [
    "Total",
    "Variation rate (%)",
    "Monthly",
    "Annual",
    "Annual accumulated",
    "Total mortgages with changes",
    "Novations",
    "Subrogations Debtor",
    "Subrogations Creditor"
  ],
  "ids": [
    "table_1_Total",
    "table_1_Variation_rate",
    "",
    "",
    "",
    "table_1_Monthly",
    "table_1_Annual",
    "table_1_Annual_accumulated",
    "table_1_Total_mortgages_with_changes",
    "table_1_Novations",
    "table_1_Subrogations_Debtor",
    "table_1_Subrogations_Creditor"
  ],
  "col": [
    [
      "0",
      ""
    ],
    [
      "1",
      "2"
    ],
    [
      "",
      "3"
    ],
    [
      "",
      "4"
    ]
  ],
  "row": [
    [
      "5"
    ],
    [
      "6"
    ],
    [
      "7"
    ],
    [
      "8"
    ]
  ],
  "data": [
    "14,168",
    "28.1",
    "19.2",
    "19.2",
    "10,105",
    "27.7",
    "10.1",
    "10.1",
    "3,216",
    "30.7",
    "649.7",
    "649.7",
    "847",
    "22.8",
    "-62.8",
    "-62.8"
  ],
  "textLad": [
    "",
    ""
  ],
  "title": "",
  "leftSideCols": 1,
  "rowsHeader": 2
}

78.3% of the 14,168 mortgages with changes in their terms and conditions were due to changes in the interest rates.

Results by Autonomous Community

The Autonomous Communities with the highest annual variation rates rises in the number of mortgages on dwellings in November were the La Rioja (65.9%), Canarias (43.3%) and Aragón (41.3%).

Comunidad de Madrid (-29.1%) and Galicia (-2.3%) were the only autonomous communities with a negative annual variation rate.

Monthly variation in the number of mortgages on dwellings. January 2025

Percentage

{
  "mode": "chart",
  "type": "barrashorizontalesprensa",
  "width": "170mm",
  "height": "130mm",
  "legend": false,
  "valueAxis": false,
  "tags": true,
  "series": [
    { "label": "Annual variation (%)" }
  ],
  "ticks": [
    "Madrid, Comunidad de",
    "Galicia",
    "Navarra, Comunidad Foral de",
    "Extremadura",
    "TOTAL",
    "Cantabria",
    "Cataluña",
    "Castilla - La Mancha",
    "Castilla y León",
    "Balears, Illes",
    "Andalucía",
    "País Vasco",
    "Comunitat Valenciana",
    "Asturias, Principado de",
    "Murcia, Región de",
    "Aragón",
    "Canarias",
    "Rioja, La"
  ],
  "values": [
    [
      "-29.1",
      "-2.3",
      "2.4",
      "5.2",
      "11.0",
      "13.2",
      "14.5",
      "21.7",
      "22.0",
      "22.5",
      "22.8",
      "23.8",
      "26.1",
      "32.7",
      "39.6",
      "41.3",
      "43.3",
      "65.9"
    ]
  ],
  "ratioMargen": 0.15,
  "angleTick": "0",
  "angleTag": "0",
  "fillToZero": true,
  "colors": [
    "#457E76",
    "#A45C0A",
    "#0071AD",
    "#756F0F",
    "#C33C9D",
    "#677746"
  ],
  "config": {
    "marcaTick": {
      "color": "#9e1834",
      "value": "TOTAL"
    }
  }
}

Revision and updating of data

The data for 2025 are provisional and will be reviewed when the data for the same period next year are published. All results of this operation are available on INEBase.

Methodological note

The Mortgage Statistics provide information on constitutions of mortgages, that is, on the number of new mortgages constituted on real estate properties during the reference month and the amount of new mortgage loans corresponding to said mortgages. All this information is broken down on the basis of various variables, such as the nature of the mortgaged property or the lending institution.

All the information on constitutions, changes and register cancellations of mortgages is obtained from the information contained in the Land Registers of the entire national territory. In order to facilitate comparisons, the data for 2003 are presented according to both the old and the new base.

Type of survey:: monthly continuous survey.
Population scope:: the registration of mortgages constituted, with changes or cancelled in the land registries.
Geographical scope:: the entire national territory, by Autonomous Communities and provinces.
Reference period of the results and the information:: the calendar month.
Classification:: rural and urban properties (dwellings, plots and other urban).
Collection method:: administrative registers from the Association of Land and Mercantile Registrars of Spain.

More information in the methodology and the standardized methodological report.

INE statistics are produced in accordance with the Code of Good Practice for European Statistics. For more information see the section on Quality at INE and the Code of Best Practices on the INE website.