Madrid, September 27 (EFECOM).- Mortgage valuations in the first half amounted to 248,400, 5% more than in the same period of 2021 and the highest figure since the end of the crisis real estate in 2014, according to statistics carried out since that year by the Spanish Association for Value Analysis (AEV).
For AEV General Secretary Paloma Arnaiz, the data reflects the acceleration of the market due to the advance of buying decisions due to inflation and rising rates, but we can expect a moderation in demand and, consequently, a Stabilization of the growth of the mortgage appraisal activity given the economic scenario forecast for the coming months.
THE AVERAGE MORTGAGE AMOUNT WAS 227,500 EUROS
The average value of homes assessed in mortgage demand stood at 227,500 euros in June, representing an increase of 12.1%, reflecting rising prices and the trend to acquire higher value homes.
As for the entire mortgage segment, which includes, in addition to homes, real estate for other uses, such as offices, premises or warehouses, it experienced growth of 10.5% in volume and 27.7% in overall amount compared to 2021, with more than 374,000 transactions, in line with the statistics for the granting of new mortgage loans, which also recorded significant increases in the first half.
PROJECT EVALUATIONS GET THEIR VALUE
According to aggregated data from the twenty-two appraisal companies represented by the AEV, the average value of appraisals of project properties for mortgage purposes increased by more than 78% and appraisal activity decreased by 19, 2%, with a total of 5,363 project appraisals.
For their part, rehabilitation projects experienced an increase in the number of mortgage appraisals of 3.9%, up to a total of 656 appraisals, for an overall appraised amount up by 64.1%, to 3,500 million. euros.
In addition, some 177,000 appraisals were carried out for accounting purposes by financial institutions, used to monitor the value of their real estate portfolios, which represents 5.4% less than in the first half of 2021, but for a total amount 10.5% higher expertise.
2% MORE REVIEWS IN REAL ESTATE
Adding in mortgage appraisals and appraisals for other purposes, such as accounting or advice, 589,295 were done in the first half, up 2.3% from the same period a year earlier.
This volume of activity is practically the same as that reached in 2018, which, in turn, was exceeded only by that of the previous year, 2017, during which more than 600,000 expertises were carried out in one semester.
The overall amount of appraisals increased by 19.3%, to €206,000 million.
Thus, the normal proportions of appraiser dedication observed in the previous quarter are maintained, with a percentage of appraisals dedicated to the mortgage segment of 63%. ECE
Edited by Gloria Arcos