If you’re considering investing in Spanish property you will be heartened by the latest monthly market report issued by the Instituto Nacional de Estadistica (INE) which clearly shows that Spain’s property market is not only moving in the right direction, it is showing signs of a definite recovery.
The report was produced using home sales figures compiled during September 2015 and then compared to figures for the same period in the previous year.
The results are astounding in as much as this September (2015) there were 27,621 registered property sales listed on the Property Register (excluding subsidised housing) whereas in the same month in 2014 there were 24,018 sales listed. This represents an annual increase of 15%. It is also the highest number of recorded property sales in Spain during September for the last five years.
Of course it isn’t only throughout September that number of home sales has increased. The Spanish property market has seen increased sales every month throughout 2015, with the largest number of sales occurring during the last 4 months. Therefore it is fair to surmise that there is increased confidence in the market with regards to sales, and that the market is on its way to a recovery.
When broken down into regions, the year on year comparison shows that Barcelona and the Costa de la Luz (Southern Spain) have seen the greatest increase in sales activity at 19% respectively. The Costa del Sol is close behind at number five with an approximate 15% increase in home sales.
It will come as no surprise to property experts on the Costa del Sol that the market has turned a corner. Real estate agents on the Costa del Sol are well aware of the constant demand for scarce prime Marbella real estate. No matter the state of the market there is an enduring appeal to owning a luxury villa in Marbella, a golf apartment in Estepona or a beach side penthouse in Mijas Costa, which makes Costa del Sol property such a smart investment.
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