A further sign of the recovery in the Spanish property market is provided by the latest mortgage approval figures. The number of new mortgages in Spain in April 2015 shows an increase of over 20% compared with the same month in 2014.
The average mortgage amount has also risen to just over €100,000. The average rate of interest was 3.29%, with the majority of loans taken out on a variable rate basis.
The figures show the general belief that Spain once again represents an excellent option for investment in property. The property prices are now at a realistic level and the availability of cheap mortgage finance has brought a wealth of buyers back into the market.
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