The Spanish government has provided yet more eye-catching news for those looking at the current houses for sale on the Costa del Sol, revealing in its latest set of figures for the residential property market that home sales went up by 1.2% during February compared to the same month last year.
Some 35,610 home sales were recorded by the country’s property registrars for the second month of the year, with the percentage change possibly lower than it would have been had February not contained one fewer working day than last year.
Still much for prospective Costa del Sol buyers to be positive about
Despite the aforementioned factor potentially dampening the latest rise by about 5%, many of Spain’s regions still saw sales increases, while a broader look at the statistics also demonstrates just how far the country’s property market has recovered since the slump that began in 2007.
The cumulative property sales total for the first two months of this year is 74,067, which is 9.3% above last year’s equivalent figure. Furthermore, the running 12-monthly total is now at more than 410,000, which is the highest it has been for six years.
A five-year high in mortgage lending, too
January was certainly a strong month for Spanish residential property, which was bought and sold in its highest numbers for four years. The impression of a resurgent market in the country was further affirmed when, at the end of March, the government’s central statistics unit confirmed that 27,240 new mortgages had been registered during the first month of the year.
This was the highest number of loans recorded for any month since January 2012, while the year-on-year increase was 16.9% – an indication of just how healthy the sector remains at a time of continued record-low interest rates.
Here at Winkworth, we realise that when you are new to browsing the wide range of presently available houses for sale on the Costa del Sol, you will likely appreciate some well-placed expert assistance and guidance. Call our team now to discuss how we can help with your search for the perfect property in Spain for leisure, work or investment.