Spanish Property Sales Continue to Rise
According to the latest property sales figures from the National Institute of Statistics (INE) there has been a large increase in the amount of homes sold in Spain.
In June alone we can see figures up by 19% comparing to the same month last year with over 39,000 residential property sales taking place.
Since the huge Spanish recession that lasted for around 6 years, market analysis highlights that monthly home sales have risen annually almost every month since March 2014.
The analyst expects new home sales to continue to grow for the next few years as off plan sales lead to completions.
Even with brexit the Costa del Sol was the second most popular place to buy for British buyers where sales are up 12%.
Previously the highest number of transactions reported in Spain was February 2011, figures have just come out stating that March 2017 is now the month to beat with 40,641 properties sold in Spain.
The whole of Mainland Spain has seen increases in growth whilst the Canary Islands had a decline of 3.5%.
The first 3 months of 2017, Spain’s Central Statistics Unit registered 15% more property sales compared to the same time period in 2016. The total number of property sales for the last 12 months including the month of March 2017 has seen the increases of 15.1% compared to the previous 12 months.
As mentioned in a previous report the Spanish property recovery is well on track and we have seen huge increases in enquiries and sales for property in the Costa del Sol specifically. With a new breed of buyer entering the market we are expecting 2017 to be a huge year for the real estate market in Marbella. Banks are offering great rates for foreign buyers, golden visas have been a successful addition for many clients outside of Europe and huge amounts of money is being injected into key resorts along the coast making the Costa del Sol one of the most desirable investment regions in Europe.