New mortgages continue in decline

The number of new mortgages signed during the first quarter of 2013 fell by 34.1% compared to last year with 16,270 transactions being completed.

The average amount of mortgages also fell in March to €96,676, which is 6.1% down on the previous year. The capital borrowed for the purpose of mortgages was down 38.5% in March to €1,572.9 million. Yet still the obsession with building more houses everywhere.

The number of new mortgages has been in decline for the past 35 months.

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