January 27, 2021

The home foreclosures fell by 40.7% in 2018

The home foreclosures fell by 40.7% in 2018


MADRIDUpdated:

Foreclosures (foreclosures on a property for sale) after default of a mortgage rose by 1.6% in 2018 from a year earlier, to stand at 53,857, of which 6,523 were on customary homes, 40.7% less than in the previous year. According to data published by the National Institute of Statistics (INE), of these 53,857 mortgage foreclosures initiated on the total of farms in 2018, 48.1% corresponded to foreclosures on housing.

Also, the INE highlights that 2,389 homes of individuals with foreclosure started were not the owners' usual residence, 30.4% less.

The INE indicates that 73.2% of the homes of individuals with foreclosure (6,523) were habitual dwellings in property, 40.7% less than 2017, and 2,389 homes of individuals with foreclosure started were not the habitual residence of the owners, 30.4% less. As for the state, 20.3% of foreclosures on homes were on new, and 79.7% on used.

The number of foreclosures on new homes increased by 10.6% compared to the previous year, while the number of used ones decreased by 10.1%.

With respect to the antiquity of the mortgages, 22.7% of the foreclosures initiated on housing corresponded to mortgages constituted in 2007, 13.7% to mortgages constituted in 2006, and 13.6% to mortgages of 2008. In this way, the period 2005-2008 concentrated 57.2% of the foreclosures initiated in 2018.

By Autonomous Community, Andalucía (10,123), Comunidad Valenciana (10,076) and Cataluña (8,841) were the ones with the highest number of certifications for foreclosures on the total of farms in 2018, and País Vasco (261), Comunidad Foral de Navarra (342) and the Balearic Islands (802), the least.

Likewise, Comunidad Valenciana (5,242), Andalucía (5,154) and Cataluña (4,561) registered the highest number of executions on housing, and País Vasco (97), Comunidad Foral de Navarra (173) and Baleares (387), had minors.

Regarding the data of the last quarter of the year, the number of registrations of certifications for foreclosures initiated in the records of the property in the fourth quarter of 2018 was 15,666, which is 61.8% more than the previous quarter, and 23.4% more than in the same quarter of 2017.

Among the homes of individuals with foreclosure, 1,551 were habitual property (28.9% less than in the same quarter of 2017) and 586 were not the owners' habitual residence (24.3% less).

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