Good news for the property market in the Canaries
Falling interest a boost for mortgage holders
Falling interest rates in Spain were welcome news for many – we hope this will encourage new buyers in the country, and also represents a considerable saving each month for those living in Spanish countries who got a mortgage last year. The Euribor, an index used to calculate interest rates for the majority of mortgages in Spain, finished February with a historical low of 0.25%, translating to an annual saving of around €156 on repayments for people who took out their mortgage a year ago.