LONDON–(BUSINESS WIRE)–#KBRA–KBRA UK (KBRA) releases research that examines Spain’s housing and mortgage markets, which have faced difficulty in recent years as the economy and banking market struggled through financial crises. KBRA notes that the current environment is different, with lower building levels and housing leverage, a higher proportion of fixed rate mortgages, improving unemployment, and relatively low delinquencies. Further, the housing and mortgage markets are better positioned to face the challenges of the rising rate environment and cost of living concerns versus the past and compared to other European markets. In this report, KBRA examines the various dynamics supporting the relatively improved health of Spain’s housing and mortgage markets.
Key Takeaways
- Modest housing market recovery as house prices improve but remain below prior peak.
- Low levels of development and a decrease in the overhang from the prior crisis support housing values.
- Moderate leverage levels and an increased proportion of fixed rates support borrower capacity to weather rising rates and cost of living challenges, but delinquencies show early signs of increasing from low levels.
Click here to view the report.
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About KBRA
KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.
Contacts
Gordon Kerr, Head of European Research
+44 20 8148 1020
gordon.kerr@kbra.com
Kali Sirugudi, European RMBS
+44 20 8148 1050
kali.sirugudi@kbra.com
Yee Cent Wong, Co-Head of Europe
+353 1 588 1260
yee.cent.wong@kbra.com
Business Development
Mauricio Noé, Co-Head of Europe
+44 20 8148 1010
mauricio.noe@kbra.com
Miten Amin, Managing Director
+44 20 8148 1002
miten.amin@kbra.com
