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Spanish property sales jump 22%

Posted on by peteradmin247

Spanish property sales jump 22%

21 September 2011

Transaction volumes are picking up in Spain with a 22% increase quarter-on-quarter according to the latest government statistics. 396,000 homes have now been sold in Spain in the past 12 months with sales accelerating in Q2 versus Q1 2011…

90,746 homes were sold between April and June this year, with new housing accounting for a third of the total transactions, the figures reveal.

Overseas property buyers continue to be a key driver says the government, with sales to “foreigners who reside in Spain” surging by 23% in the second quarter of this year to 8,514.

Alicante registered the greatest number of home purchases at 2,308 with Malaga in second spot at 1,110 sales. Santa Cruz de Tenerife experienced 599 sales and there were 567 transactions in the Balearic Islands, says the Ministry of Public transactions.

Meanwhile, according to a study of 100,000 properties recently published, Spanish property prices are starting to improve in the Costa Blanca and Costa Calida areas with Alicante and Murcia highlighted as a further two locations where prices are pushing upwards.

Spanish property prices are yet to catch up with the highs seen in 2007, the price increase is nevertheless an encouraging sign for investors in the market. Alicante, for instance, has experienced improvements in its infrastructure seeing a second airport terminal open which always good news when it comes to attracting more visitors.”

Many Developers “matching the Spanish government’s 50% tax cut on a limited stock of new properties to be delivered this year.

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