9.4% are carried out on rustic properties and 90.6% on urban properties
The total number of registrations of certifications for foreclosures in Extremadura started in the fourth quarter of 2021 was 127, 54.9% more than in the same quarter of 2020, compared to a decrease of 22.7 percent in the whole national
Likewise, foreclosures initiated on housing rose by 48.9% in the autonomous community in annual rate, compared to a decrease of 11.1 percent at the national level, according to the statistics of foreclosures published this Monday by the National Institute of Statistics (INE).
By type of property, 9.4% of foreclosures in the region are carried out on rustic properties and 90.6% on urban properties.
In relation to the previous quarter, the inscriptions of certifications for foreclosures initiated in the property registries decreased by 13% in Extremadura, while in Spain they increased by 20.9%.
Foreclosures initiated on homes increased by 40% in the Autonomous Community compared to the third quarter of 2021, and concentrated 55.1% of the total foreclosures in Extremadura (64.9% nationally).
All of them occur in used homes, increasing by 62.8% compared to the previous quarter; and those of new housing go from 7 in the previous quarter to zero in this quarter. In year-on-year terms, second-hand housing foreclosures increased (75%), of new housing in the fourth quarter of 2020 there were 7 foreclosures.
Considering the owner of the home, 82.9% of foreclosures occur in homes owned by individuals and 17.1% in homes owned by legal entities.
The number of foreclosures on habitual residences stood at 11,947 in 2021, a figure that is the highest since 2016 and represents an increase of 57.4% compared to 2020, its largest annual rise since the beginning of the series, in 2014 .
With this rise, foreclosures on habitual residences chain two years of increases after in 2020, the year in which the pandemic began, they rose 41.6%.
In the fourth quarter of 2021 alone, 3,231 foreclosures on habitual residences were registered, 42.6% more than in the previous quarter, and 4.8% more than in the fourth quarter of 2020.
The main objective of this statistic is to offer quarterly the number of mortgage foreclosure certifications initiated and registered in the Property Registries during the reference quarter. Statistics remember that not all foreclosures end with the release (eviction) of their owners.
Executions in 2021
In 2021, 32,383 foreclosures were initiated, 7.4% less than in 2020. Of these, 30,697 affected urban properties (which includes homes) and 1,686 rural properties.
Foreclosures on urban properties fell by 8.2% compared to 2020. Within urban properties, 20,206 foreclosures corresponded to homes, 6.8% more than in 2020, and of these 14,862 were foreclosures on homes of individuals , a figure 53.3% higher than that of 2020.
For its part, foreclosures on homes of legal entities decreased by 42.1% last year, to 5,344, while those carried out on plots fell by 25.2% and totaled 906.
Likewise, foreclosures on premises, garages, offices, storage rooms, warehouses, buildings intended for housing, other buildings and urban developments totaled 9,585 in 2021, 27.9% less than in 2020.
Of the total foreclosures on homes registered last year, 17,964 affected used homes, with an annual increase of 13.6%. By contrast, foreclosures on new homes fell by 27.8%, to total 2,242.
The statistics also reveal that 17.6% of foreclosures initiated on homes in 2021 correspond to mortgages constituted in 2007, 14% to mortgages signed in 2006 and 9.9% to mortgages signed in 2005.
The period between 2005 and 2008 concentrated 51.1% of foreclosures initiated in 2021.
By autonomous communities, Andalusia led executions on housing last year, with a total of 4,510, followed by the Valencian Community (4,402) and Catalonia (3,703). On the opposite side were Navarra (86), La Rioja (133) and Cantabria (164).
Of the total number of properties, the Valencian Community led the number of foreclosures, with 7,573, followed by Andalusia (6,727) and Catalonia (5,287), compared to Navarra (136), La Rioja (266) and Cantabria (273), which registered the smallest number.
INE, Cantabria, Catalonia, Valencian Community, Spain, Extremadura, La Rioja, Navarra, Euribor, Mortgages, house
Eddie is an Australian news reporter with over 9 years in the industry and has published on Forbes and tech crunch.