January 22, 2021

Foreclosures on regular homes increase 82.2% in the third quarter


The number of foreclosures on habitual homes of natural persons was 1,804 in the third quarter, 105.6% more than in the second quarter and 82.2% more than in the third quarter of last year, according to statistics from foreclosures published this Thursday by the National Institute of Statistics (INE). This is due to the stoppage of the second quarter in Spain, when the lowest number of executions in the entire historical series was recorded, since executions usually fall in summer. This year activity resumed in June, so the year-on-year data is high.

The Government will paralyze evictions while the state of alarm lasts

The Government will paralyze evictions while the state of alarm lasts

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The total number of executions stood at 4,756 in the third quarter, a figure 63.7% higher than the previous quarter, but 17.2% below that of the same period of 2019. Data for the third quarter of 2020 they are still far from those of previous years. In 2016, with the previous crisis still raging, 7,943 executions were recorded in the same period.

For its part, foreclosures on legal persons’ homes totaled 2,451 in the third quarter, with a quarterly increase of 38.9% and a year-on-year decrease of 44.2%.

Royal Decree-Law 8/2020 of March 17 established, in article 7, extraordinary measures conducive to seeking a moratorium on the mortgage debt for the acquisition of the habitual residence. Likewise, article 8 establishes the scope of application of said moratorium, establishing that it will apply when all the requirements established in article 16 of Royal Decree-Law 11/2020, of March 31, concur in the debtor, to understand that it within the assumptions of economic vulnerability.

The INE recalls that not all foreclosures that are initiated end with the release of their owners and that a judicial procedure can lead to several certifications for foreclosure.

In total, the number of registrations of certifications for foreclosures initiated in the property registries in the third quarter of 2020 was 8,648, which is 56.3% more than the previous quarter, but 29.3% less than in the same quarter of 2019.

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