hit tracker
Wednesday, March 22, 2023
HomeLatest NewsForeclosures drop 5% in 2022 after two years of skyrocketing

Foreclosures drop 5% in 2022 after two years of skyrocketing

Date: March 22, 2023 Time: 22:09:51

In full inflationary pressure, the number of foreclosures on regular homes stood at 11,556 in 2022, 5% less than in 2021, according to the foreclosure statistics published this Monday by the INE Instituto Nacístionalica (Est).

With this decrease, foreclosures on habitual residences put an end to two consecutive years of double-digit increases, after in 2021 and 2020 they shot up 60.3% and 41.6%, respectively. During the fourth quarter of 2022, 3,049 foreclosures were registered on habitual residences, 50.8% more than in the previous quarter, but 7.9% less than in the fourth quarter of 2021.

In what type of housing have they presented a greater decrease?

The main objective of this INE statistic is to offer, on a quarterly basis, the number of foreclosure certificates initiated and registered in the Property Registries during the reference quarter. Statistics reminds that not all foreclosures end with the release (eviction) of their owners.

In 2022, 25,551 foreclosures were initiated, 22.3% less than in 2021. Of these, 24,288 affected urban farms (including homes) and 1,263 rustic farms. Foreclosures on urban properties fell by 22.2% compared to 2021.

Within urban farms, 16,851 executions corresponded to homes, 18.6% less than in 2021, and of these, 14,148 were executions on homes of natural persons, a figure 6.5% lower than that of 2021. For its part, foreclosures on homes of legal persons decreased by up to 51.3% last year, standing at some 2,703, while those carried out on plots fell by 33% and totaled 640.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

Most Popular

Recent Comments