Friday, February 25, 2011

Spanish couples on average take 70 years to pay the mortgage

Spanish couples take an average of 18 years to pay off the mortgage on a flat of 70 square meters, three years less than in 2010, thanks to falling prices and rising wages.

By region, Extremadura is the region which take less time to pay the mortgage, within 11 years. Also, other communities are below average, as in the case of Castilla-La Mancha (12 years), Asturias (14 years), Galicia (15), Castilla y León (15), Valencia (16 years), Murcia (16), Navarra (17) and Andalusia (17).

The national average is only maintained in La Rioja and Aragon, while above it displayed the Canary Islands (19), Madrid (22 years), the Balearic Islands (23), Cantabria (23 years) and Catalonia (24 years).

Basque couples are the slowest to pay our mortgage, up to 28 years, in spite of receiving the highest net income: EUR 3,102 on average between the two.

Given these results, the analysis concludes that the inhabitants of regions with cheaper per square meter are the ones who pay off their mortgage debt before and emphasizes that in the years a Basque family buy a house, a Castilian-La Mancha and Extremadura could acquire to two properties.


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