According to Cajamar, there are currently some 1200 families in Almeria who have defaulted on their mortgage so far this year. Loan defaulting in general has shot up 28% with respect to last year, and Cajamar expects the situation to get worse, which is why its put 55M€ aside to cover such shortfalls.
Last year repossessions in Almeria were 0.3% of the whole market. So far this year it’s at 1.8% and is expected to reach 3% by years end. Mind you, during the last crisis of 93, it hit 9% so it’s still got some ways to go.