The Spanish mortgage market advanced strongly in June, but it did not do so at the same pace in all autonomous communities. The number of mortgages constituted on homes increased by 10.8% year-on-year, reaching 45,907 operations, according to data published this Wednesday by the National Institute of Statistics (INE).
The territorial difference is considerable. The Canary Islands led the growth with a 31.4% more mortgages than in June 2025, followed by Castilla-La Mancha 23.2% and Comunitat Valenciana 16.1%. At the opposite end, the Balearic Islands recorded a decrease of 10.4%, Cantabria 9.1%, and Galicia 7.3%.
The map changes again when observing the money mobilized. Throughout Spain, €8,188.2 million were lent to constitute mortgages on homes, a 17.5% year-on-year increase. The capital thus increases much more than the number of signatures because the amount of loans has also grown: the average amount reached €178,365, 6% more.
Canary Islands and Castilla-La Mancha pull away from the average
The Canary Islands were more than 20 points above the national growth. Its increase of 31.4% makes the archipelago the territory where the constitution of mortgages on homes increased proportionally the most during June.
The second position corresponds to Castilla-La Mancha, with 23.2%, while the Comunitat Valenciana recorded 16.1%. Also showing double-digit advances are Andalusia 15.7%, Catalonia 14%, and Navarra 12.5%.
Below the Spanish average, but still positive, are the Basque Country 9.7%, Extremadura 7.2%, Asturias 6.8%, Castilla y León 6.8%, Madrid 6.1%, Aragón 3.3%, and La Rioja 2.7%. Murcia was the only community that did not experience any variation compared to June 2025.
Balearic Islands register the largest drop in mortgages
Only three communities showed a negative year-on-year evolution. The Balearic Islands lead the declines with 10.4% fewer mortgages, followed by Cantabria 9.1% and Galicia 7.3%.
The distance between the two extremes of the map is significant. Between the 31.4% growth of the Canary Islands and the 10.4% decline of the Balearic Islands, there is a difference of 41.8 percentage points.
The data also allows distinguishing volume growth. A community can experience a strong percentage increase starting from a smaller base and not necessarily be the one that registers the most operations. In absolute terms, Andalusia concentrated the largest number of mortgages, ahead of Catalonia and Madrid.
The map of mortgages by autonomous communities
The comparison of year-on-year rates clearly shows the different speeds of the Spanish mortgage market in June.
| Autonomous community | Year-on-year variation of mortgages |
|---|---|
| Canary Islands | +31.4% |
| Castilla-La Mancha | +23.2% |
| Valencian Community | +16.1% |
| Andalusia | +15.7% |
| Catalonia | +14.0% |
| Navarre | +12.5% |
| Spain | +10.8% |
| Basque Country | +9.7% |
| Extremadura | +7.2% |
| Asturias | +6.8% |
| Castilla y León | +6.8% |
| Madrid | +6.1% |
| Aragon | +3.3% |
| La Rioja | +2.7% |
| Murcia | 0.0% |
| Galicia | -7.3% |
| Cantabria | -9.1% |
| Balearic Islands | -10.4% |
Year-on-year variation in the number of mortgages constituted on homes in June 2026. Provisional data from the INE.
The official data thus shows 13 communities with growth, three with declines, and one, Murcia, with no year-on-year variation.
More signatures and even more money lent
The national evolution allows us to observe another difference. The 45,907 mortgages constituted represent an increase of 10.8%, but the capital lent increases by 17.5%, up to 8,188.2 million euros.
The explanation lies in the size of the new loans. The average amount reached 178,365 euros, 6% more than in June 2025. If both the number of operations and the average amount financed increase simultaneously, the total volume of money mobilized grows more intensely.
The autonomous evolution of capital does not have to coincide with the classification by number of signatures. Two territories can register a similar evolution in operations and, however, mobilize very different amounts depending on the average amount of the constituted loans.
The percentage growth does not indicate where more mortgages are signed
The classification must be interpreted with caution. The Canary Islands lead the percentage growth, but that does not mean it is the largest mortgage market in the country. Andalusia, Catalonia, and Madrid concentrate the largest absolute volumes of operations.
Madrid exemplifies this difference well. The community recorded a year-on-year growth of 6.1%, almost five points below the Spanish average, but continues to be among the territories where the largest number of housing loans are formalized.
The same happens when comparing the money lent. Two communities with a similar number of operations can mobilize very different amounts if the average amount of the financed homes and the requested mortgages is different.
A mortgage market at different speeds
The June statistic depicts, therefore, a market that grows across Spain but presents territorial differences greater than 40 points between the communities situated at the extremes of the ranking.
The national figure is solid: 45,907 mortgages, 10.8% more than a year ago. However, behind that average coexist the 31.4% growth of the Canary Islands with the decline of 10.4% in the Balearic Islands, passing through communities like Murcia where operations remained exactly at the same year-on-year level.
The mobilized money adds a second dimension to the map. The 8,188 million lent and its increase of 17.5% show that the mortgage market not only registers more signatures: the operations are requiring larger amounts of financing, although both the intensity of growth and the volume of activity vary considerably by territory.