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Mortgage transactions in Spain fall 32.7 pct in 2012
Last Updated: 2013-03-07 13:56 | Xinhua
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A total of 274,715 mortgages were granted in 2012 by banks to potential homeowners in Spain, 32.7 percent lower than in 2011, the Spanish National Institute of Statistics (INE) reported on Wednesday.

The average mortgage in 2012 was valued at 103,192 euros (134,548 U.S. dollars), 7.8 percent down from the 2011 average, the INE said in a statement posted on its official website.

The amount of capital which was loaned by the banks fell by 38 percent to 28.348 billion euros, according to the INE.

The fall in the number of mortgages in 2012, which is just 0.1 percentage point below that recorded in 2011, is the second highest since the economic crisis started in Spain.

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