There was a 13.4% increase as 128,990 Spanish home sales were registered in the Land Register in the first quarter of the year according to the latest property market report released by the Association of Spanish Property Registrars.
This volume of quarterly sales was noted as the highest in the last thirty-eight quarters, and you would have to go back to the third quarter of 2008 to find a larger increase. This shows a real confidence in the sales market even given that property prices across Spain grew by an average of 3.8% in this first quarter according to Tinsa.
Overseas demand hit a high of 16,833 purchases in Q1, which is up by 13.2% compared to the same period last year. Contemporary and stylish off plan developments are being started along the coast line offering everything from exclusive villas to contemporary sea view apartments catering for all taste and budgets. Spanish property is clearly still seen as a good investment by buyers from all over the world, and at the moment is being led by the British.
UK nationals purchased more homes in Spain than any other foreign nationality in Q1 2018, with 2,451 acquisitions in the period, followed by the Germans with 1,316, and the French on 1,290. As a result, the UK’s share of the foreign market was 14%, followed by Germany and France with just above 8% each.
Spain continues to appeal to foreign buyers despite potential hurdles like Brexit, showing that peoples desires to have what they want out of life outweighs what is going on in the world. With property a sound investment, property in Spain offers solid investor appeal as prices continue on an upward spiral and tourism here is ever popular.