A majority of residential property purchases in Aragon rely on mortgages, with buyers leaning heavily toward 25-year fixed-rate loans despite climbing borrowing costs, according to data presented by Ibercaja.
The region’s property market expanded through the third quarter of 2026, though the pace of price growth moderated compared to previous periods. Housing prices reached 1,865 euros per square meter, marking a level not seen since 2011 after a 1.4% quarterly increase and a 10.6% annual rise.
- Mortgage financing volumes crossed 1,760 million euros over the 12-month period, reflecting a 4% year-over-year increase.
- Fixed-rate agreements accounted for 68.2% of new loans during the third quarter.
- The average monthly mortgage payment stood at 649 euros, supported by an average loan amount of 136,178 euros.
Rising property values and overall acquisition costs continue to drive buyers toward mortgage financing. In the twelve months prior to the report, 13,137 housing mortgages were formalized, representing 71.7% of all real estate transactions in Aragon, as explained by Jorge Aguerri, jefe de Desarrollo de Negocio Promotor de Ibercaja, during the presentation of the Aragon Real Estate Market report.
The report was developed by the Cátedra en Mercado Inmobiliario de la Universidad de Zaragoza, alongside the Colegio de Registradores de la Propiedad, Ibercaja, Grupo Plaza 14, Colegio de Agentes de la Propiedad Inmobiliaria de Aragón, and Ingennus. Transaction financing concentrated heavily in Zaragoza, where mortgages accounted for 78.7% of total sales, compared to 61% in Huesca and 45.7% in Teruel, according to Aguerri.
Statistical indicators pointed to an acceleration in mortgage debt, growing 7.4% quarter-over-quarter and 11.2% year-over-year. Despite this mounting debt load, affordability metrics showed slight improvement during the quarter. The average mortgage burden claimed 28.4% of salary costs, slipping 1.33% from the previous quarter.
The mortgage market continues to show solid behavior despite the context of higher interest rates,
Aguerri stated, pointing specifically to the trajectory of the Euribor over the past year. That evolution placed the average interest rate for new mortgage credits at 3.09%.
| Financing Metric | Third Quarter 2026 | Annual Comparison |
|---|---|---|
| Fixed-Rate Mortgage Share | 68.2% | 61.9% |
| Variable-Rate Mortgage Share | 31.9% | 38.1% |
| Average Mortgage Term | 25 years | 25 years |
| Average Monthly Payment | 649 euros | 642 euros |
Higher interest rates steered the vast majority of borrowers toward fixed-rate structures. Variable-rate agreements accounted for 31.9% of quarterly activity and 38.1% annually, with Euribor-linked products making up nearly identical shares at 31.7% and 37.8% respectively. Borrowers committed to an average repayment term of 25 years.
Average monthly installments registered minor shifts depending on the measurement window. The quarterly payment dropped 3.7% to 649 euros, while the annual average shifted to 642 euros, representing a 0.1% quarterly decline paired with a 5% annual increase.
Disclaimer: The information provided in this article is for educational and informational purposes only and does not constitute financial advice.
