Foreclosures on common homes are up 84% through March, setting a record since 2017

The number of foreclosures on habitual dwellings soared 84.1% in the first quarter of the year in relation to the same period of 2020, to stand at 3,207, its highest figure in four years, according to the foreclosure statistics published this Friday by the National Institute of Statistics (INE).

The main objective of this statistic is to offer quarterly the number of foreclosure certifications initiated and registered in the Property Registries during the reference quarter. Statistics remember that not all foreclosures end with foreclosure (eviction) of their owners.

Statistics recalls that in March 2020, when the first state of alarm came into force, extraordinary measures consisting of seeking a moratorium on mortgage debt for the acquisition of a habitual residence.

In the first quarter of the year, 8,257 foreclosures were initiated, 17.5% less than in the previous quarter and a 23.7% less in the interannual rate. Of these, 7,906 affected urban farms (which includes homes) and 351 rural farms.

Foreclosures on urban estates fell 17.2% compared to the previous quarter and 22.9% compared to the first quarter of 2020.

Within urban farms, 5,178 executions corresponded to dwellings, 9.3% less in the quarter-on-quarter rate and 6.7% less in interannual terms, and of these 3,889 were executions on the homes of individuals, 3.4% more than in the previous quarter and figure a 69.1% higher than in the first quarter of 2020.

And inside the homes of natural persons, 3,207 executions They were carried out on habitual dwellings of natural persons and 682 on dwellings that are not the habitual residence of the owners. The former rose by 84.1% in the interannual rate and rose by 6.2% in the quarterly rate, while the latter increased by 22.3% compared to the first quarter of 2020, although they fell by 8% compared to the previous quarter. .

On the other hand, foreclosures on houses of legal persons totaled 1,289 between January and March, 33.8% less than in the previous quarter and 60.4% less than in the same period of 2020.

89% of foreclosures on homes affect used flats

Home foreclosures accounted for 62.7% of total foreclosures in the first quarter of this year.

38.8% of all home foreclosures affected habitual dwellings of individuals, 15.6% corresponded to dwellings of legal persons and 8.3% to other homes of natural persons.

On the other hand, the foreclosures of other urban properties (premises, garages, offices, storage rooms, warehouses, residential buildings, other buildings and urban uses) they represented 30.1% of the total.

10.5% of first-quarter home foreclosures were on new homes and 89.5% were on used ones. The number of foreclosures on new homes decreased 45.1% in the annual rate (-26.6% in the quarter-on-quarter rate) and that of used vehicles rose by 1.7% in relation to the same quarter of 2020 (-6.7% quarterly).

18.8% of the mortgage foreclosures initiated on dwellings in the first quarter correspond to mortgages constituted in 2007; 13.7% to mortgages constituted in 2006 and 10.6% to mortgages of 2005. The period 2005-2008 concentrates 52.2% of the mortgage foreclosures initiated between January and March.

Andalusia leads in foreclosures on homes

By autonomous communities, Andalusia led the executions on dwellings in the first quarter, with a total of 1,094, followed by Valencian Community (1,093), Catalonia (1,011) and, further afield, Madrid (463). On the opposite side, with the lowest number, were Navarra (14), La Rioja (41) and Extremadura (43).

Of the total number of properties, the Valencian Community led the number of foreclosures, with 1,731, followed by Andalusia (1,526), ​​Catalonia (1,426) and Madrid (691). For their part, Navarra (16), La Rioja (50) and Extremadura (68) registered the lowest number.

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