According to figures released by the association of Spanish Notaries the housing market in Spain grew 17.4% in August compared to the same time last year, the seventh out of eight months in 2016.
The latest residential property sales statistics show that during August a total of 22,667 properties changed hands, continuing an upward trend since sales bottomed out in January 2013.
The cumulative total of property sales registered in the first eight months of 2016 stands at 14.8% higher than last year with a total of 276,000 transactions, similarly the running twelve monthly total has climbed 13.3% reaching 391,000 transactions since August last year.
Measured in terms of price per square metre, national average house prices were down 3.2% however this is masked by large local differences between the 50 Spanish provinces with the major cities and coastal areas popular with foreign buyers such as the Costa del Sol and Marbella leading the recovery.
As to be expected, new residential mortgage lending during August mirror that of sales with an increase of 20.7%.