How many apartments are bought with a mortgage? August of maximums since the financial crisis

BarcelonaIt seems there are changes in the housing market. Sales involving mortgages are gaining weight, and in August they already reached half of the 12,442 transactions closed in Catalonia, according to data from the National Statistics Institute (INE) published this Monday. It is a proportion not seen since 2011, in the midst of the economic crisis.

According to Òscar Gorgues, manager of the Barcelona Urban Property Chamber, this trend shows that "there are more and more end-user buyers, people who buy to live there and who, at the same time, require more financing". In his opinion, investors are losing prominence in the market because, on one hand, "buying to rent is becoming less profitable" in a context of rising prices and, on the other, the new regulation establishes a framework of "legal insecurity".

Beyond the actors operating in the market, Gorgues emphasizes that "the market remains very dynamic," meaning that demand is sustained and transactions as well. This August, 7.8% more purchases were closed than in the same month last year, and mortgage signings grew by 9%.

In August, the province of Barcelona accounted for almost 64% of operations; Tarragona, 16%; Girona, 14%, and Lleida, 6%. These are proportions similar to those of recent years. "Probably, if there were more housing to sell, we would sell it," maintains Gorgues, but reiterates that there is a problem of supply and new construction. "We basically live off second-hand housing," he concludes.

On average, the value of each mortgage rose to nearly 194,000 euros, the maximum recorded in the historical series, in a context with prices –and, especially, housing prices– on the rise. The INE estimates that in the second quarter –the last one with available data– sales became 10% more expensive compared to 2025, and that since the beginning of 2026 prices have risen by almost 6%. However, it remains to be seen how it affects the September interest rate hike by the European Central Bank (ECB) loans and the housing market.

Spain: purchases without a mortgage

In the country as a whole, however, the majority of home purchases are still made without a mortgage. In other words, only 43% of transactions involved bank financing, in line with recent years. We have to go back to August 2011 to see the proportion reversed.

Both the buying and selling market and the mortgage market recorded increases in August, but lower than those in Catalonia: 3.5% more transactions and 2% more mortgages were closed.