Spanish Property Foreclosures Increase 14% On 2013
Spain News
Published: 30 September 2014 12:03 CET
Updated: 20 December 2019 13:03 CET
Foreclosures by Property Type
In total, there were 32,960 certifications for foreclosure which incorporates all urban properties, including private dwellings, offices, garages, warehouses and other business related premises.
Of the 32,960, there were a total of 19,155 foreclosures of dwellings with an increase of 1% on the first quarter of the year and 7.2% on the same time last year.
Foreclosures on new build properties fell to 2,735 or a decrease of 25% on the previous year with resale/used property foreclosures increasing by 15%(16,420) on the previous year.
Importantly, the vast majority of recent foreclosures were for properties with mortgages that were purchased between 2005 and 2007; just prior to the property market collapse.
Foreclosures by Autonomous Region
In terms of Autonomous Communities Andalucia saw the most foreclosures with a total of 7,703 registrations. Cataluña recorded 5,969 foreclosures and the Valencia region 5,365.
The regions with the fewest foreclosures were La Rioja with just 61 registrations and Pais Vasco with 94.
Source: Instituto Nacional de Estadística
