Castilians and Leonese have to allocate a quarter of their land each month to pay the mortgage, although the increase in interest rates, derived from the new monetary policy of the European Central Bank, will raise this percentage, unless it is compensated by an increase of wages. On average, the home loan involves a monthly disbursement of 470.9 eurosalthough its increase is beginning to reach the pockets of citizens.
The accessibility of housing it will get complicated in the rest of the yearaccording to the forecasts handled by the Association of Property and Mercantile Registrars of Spain, which in its last bulletin, corresponding to the second quarter of the year, already contemplated that wages would not rise enough to compensate for the rise in mortgages, at a time when the 12-month Euribor, the main indicator, has gone from negative ground to over 2%.
Likewise, the average mortgage payment is expected to maintain the upward trend over the next few quarters, pressured by the rise in interest rates and, probably, by mortgage debt due to the increase in house prices. Everything, the registrars insist in their report, will lead to a worsening of the possibilities of acquiring a home.
However, the data indicate that the scenario in Castilla y León is more positive than in the country as a whole and, especially, in the richest territories. In fact, the margin that the citizens of the Community have to deal with the increase in mortgages is greater than the average in Spain. On the one hand, while this payment requires 25% of the salary for Castilians and Leonese, on average in Spain it exceeds 31%.
In fact, Castilla y León is the fourth autonomous community with a lower percentage of mortgage payments compared to wage costs, together with the Region of Murcia (22.4%), the Principality of Asturias (23.4%) and Extremadura (24. 1%). On the opposite side, with the greatest efforts are the Balearic Islands (54.2%), the Community of Madrid (37.6%), La Rioja (34.6%) and Catalonia (32.9%).
The mortgage payment paid in Castilla y León is also among the lowest in the country. The 470 euros of the Community contrast with the 635.8 euros on average in Spain, about 165 euros less. The largest amounts are in the Balearic Islands (1,018.1 euros), the Community of Madrid (931.9 euros), Catalonia (722.5 euros) and the Basque Country (675.8 euros), while the lowest average amounts correspond to Extremadura (392.3 euros), Region of Murcia (407.7 euros) and Castilla-La Mancha (460.4 euros).
Evolution
The mortgage payment experienced a reduction of 1.9% in the second quarter compared to the first in Castilla y León, while it increased by 0.4% on average in Spain. In addition, the percentage of wages dedicated to this concept fell between April and June by 0.68%, well above the 0.26% that fell in the country as a whole.
Specifically, 13 autonomous communities increased their average monthly mortgage payment during the last quarter, giving rise to reductions in four of them. For its part, in seven autonomous communities the percentage of the mortgage payment with respect to the salary cost has increased, giving rise to reductions in nine, maintaining results in one case.
However, in the interannual variation registered a 5.8% increase in mortgages in Castilla y León, two points above the national average, where the rise stood at 3.8%, according to data from the College of Registrars. Along the same lines, the salary percentage required for this loan rose by 18 tenths, while in Spain there was a reduction of 1.03 percentage points.