Property sales statistics indicate that a total of 35,501 properties were sold in Spain during August – exceeding 35,000 sales for the first time in six years.
The statistics, published on 7th October, show that the number of sales generated in August of this year was 20.3% up on the same month in 2015.
The Spanish market enjoying a strong rebound to health
A year-on-year increase in property sales has been recorded throughout Spain’s regions, with the Balearic Islands seeing an especially great deal of prosperity, the region’s property sales having increased by 49.2%.
Other regions to have enjoyed substantial growth in property purchases include Catalunya with a 41% rise, La Rioja at 30.1% and Navarra with 38.1%. There was a slight drop in sales for one area of Spain – by 5.2% in Murcia.
While one month’s sales cannot be considered as representative of the whole year, such significant increases in August would nonetheless seem to augur well for the Spanish property market’s continued rejuvenation.
Overall sales for the first eight months of this year have exceeded the same period last year by an impressive 14.8%, with total recorded sales thus far in the range of 276,000.
The Balearics and the Comunidad Valenciana have both enjoyed a healthy property market, with these areas – not coincidentally – also seeing a great number of property purchases by non-Spaniards. Calculating transactions made per 100,00 residents shows the Balearics with an average of 142 and the Comunidad Valenciana with 125 – impressive given that until recently, it was rare for a Spanish region to exceed 100 by this measure.
Marbella property remains in demand
Winkworth clients with a particular interest in the Marbella area will be pleased to read that even amid recent uncertainty in the Spanish political climate, the Costa del Sol city and municipality continues to enjoy a robust property market of its own.
Although there were fears that the recent vote in the UK to leave the EU would greatly compromise the Spanish property market, according to one well-placed industry observer as reported by The Olive Press, prospective residents are still coming back to buy villas in Marbella.
Marbella seafront properties are always likely to be popular, but with so much of this good sentiment evident across the rest of Spain, it seems that the positive headlines for the country’s property market will continue well into 2017.