The real estate market in Melilla, and more specifically the sale of homes, seems to be taking off again, although very, very timidly. And it is that according to the figures provided by the National Institute of Statistics (INE) and referring to the mortgage firm in our city, this number has multiplied by more than five in just four months, which leads one to think that they are starting to sell more houses. In addition, the number of mortgages signed in August this year is more than double the number signed in the same period of the previous year.
If we go to the last month for which data is available, which is last August, in the middle of summer and in the middle of vacation time, in that period a total of 105 mortgages for real estate. Of these mortgages, 75 corresponded to dwellings and the rest (another 30) appear under the heading of Others.
A month before, in July, they signed their names 80 mortgage firms. Of these, 58 were for the purchase of homes, 21 for other real estate and there is also one for the purchase of land. But it is that in the month of June, still in the middle of the school year and without any special vacation period, the number of mortgages already amounted to almost only half of those signed in August; Specifically, 53 were signed: 43 mortgages were used to purchase homes and the rest, another 10, to different real estate.
In May, that is, four months before the latest statistical data available, that of August, the number of mortgages signed was 20: 15 for homes and 5 for other real estate.
At the national level, the number of mortgages constituted on homes in August has increased by 10.5% compared to the same period in 2021. If we compare the average amount of mortgages, this increases by 5.4% and reaches an average of 145,287 euros .
However, these numbers are far from those recorded a year ago, in August 2021, and are much more positive; So in one month only a total of 48 mortgages were signed in our city: 31 for homes, 1 for lots and 16 for other real estate.
These data are even more opposite if we compare the month of May of this year, when the aforementioned 20 mortgages were signed, with the same period of the previous year: if in 2022 they were signed on May 20, in 2021 a total of 80 mortgages (55 for homes and 25 for other real estate).
The numbers are completed with the 69 mortgages (53 homes and 16 of other real estate) signed in July of last year compared to 80 this year or 76 in June 2021 (a plot of land, 51 mortgages for homes, a rustic property and 23 corresponding to other real estate), compared to 53 in the same month of this year.
Banks
As can be seen from the data provided, these statistics include not only homes but also any other real estate, such as rural properties, urban properties or plots of land.
And if we refer to the entity with which the buyers of a home have signed the mortgage, according to INE data, 94 of those 105 mortgages were signed with a bank, 11 with other entities and none with a savings bank.
Cancellations
With regard to mortgage cancellations, which have also occurred, during the month of August, 69 real estate properties were canceled; Of these, 54 were dwellings and 15 are grouped under the heading of Others.
These figures are significantly higher than those of the previous month, July, when a total of 40 mortgages corresponding to homes and another seven real estate properties were cancelled.
These cancellations can have very different justifications: simply the mortgage has been paid and, therefore, it is cancelled; the owner decides to transfer his mortgage to another banking entity, with which the first one is closed and a second one is opened or, for whatever reason, a new mortgage has to be requested on the existing one.