Mortgaged homes increase

THE number of mortgage loans applied for to buy new properties has registered a positive trend during October.

Compared to the same period of 2013, mortgages signed have increased by 18 per cent, which translates to 17,687 new loans, according to data provided by the National Statistic Institute (INE).

With this result, mortgaged properties have experienced a five-month positive trend, following the 19 per cent increase in June, the 28.8 per cent registered in July, 24 per cent in August, and the 29 per cent increment in September.

The average cost of mortgages was €99,866 in October of 2014, 2.6 per cent less than in the same month last year.