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Madrid Surges in Mortgage Operations, Up 19.1% in March, Doubling National Growth

The region lent 2.106 billion euros, a 27.62% year-on-year increase, solidifying its leadership in the real estate market.

Image of a Spanish mortgage deed with a pen and the Madrid skyline in the background.
IA

Image of a Spanish mortgage deed with a pen and the Madrid skyline in the background.

The Community of Madrid recorded 7,727 home mortgages in March, a 19.1% increase from the previous year, doubling the national growth of 9%.

Madrid's mortgage market experienced significant growth in March, with 7,727 home mortgages established. This figure represents a 19.1% increase compared to the same month last year, significantly outpacing the national expansion rate of 9%.
The volume of capital lent in the region reached 2.106.78 billion euros, a year-on-year increase of 27.62%. This rise reflects not only a higher number of operations but also larger average amounts per transaction. Compared to February, the amount lent grew by 21.1%, indicating sustained dynamism in Madrid's real estate sector.
Across the entire Community of Madrid, 10,127 mortgages were formalized on all types of properties, mobilizing a total capital of 2.738.78 billion euros. Among these, home mortgages were the most prevalent with 7,727 operations, followed by 2,329 on other types of properties and 58 on plots of land.
Nationally, Madrid ranks among the autonomous communities with the best performance in the mortgage market. Only Navarre (60.41%) and Aragon (45.45%) surpassed Madrid's 19.13% growth in the number of operations. In contrast, Galicia registered the largest drop with a 20.71% decrease.
Regarding the capital lent, the trend is even more favorable in Madrid. While Navarre leads with a 65.39% increase and Aragon with 56.28%, Madrid is among the communities with the best evolution, with the Basque Country being the only region where the amount lent declined.
In the region, 111 creditor subrogations and 354 mortgages with changes in ownership were also registered. Of the 1,941 mortgages with altered conditions, 1,476 were novations of existing loans.
Concurrently, 11,536 loans on properties were canceled in March, of which 8,768 corresponded to homes, showing a balanced movement between new operations and amortizations.
Nationally, the mortgage market reached historic highs for the month of March since 2010, with 46,661 home mortgages, marking the twenty-first consecutive month of growth.
The average interest rate applied to home loans in March stood at 2.84%, its lowest level since October and remaining below 3% for the fourteenth consecutive month, which facilitates access to credit.

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