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Increase in Mortgage Signing is a Good Sign!

83% increase in mortgage signing in the Balearic Islands

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Increase in Mortgage Signing is a Good Sign!

The real estate market on the Islands continues to improve and new statistics released by the INE (National Institute of Statistics) show a promising trend.

Data released on Tuesday told us that in August, the number of registered mortgages on property in the property records in the Islands stood at 629, 83.4% more than the 343 in the same month in 2013.

Jose Luis Guillen, president of Proinba (Association of Real Estate Promotion Companies of the Balearics), said the labour market recovery and a good tourist season, with an opening of credit by banks, has led to the promotion of home ownership.