According to the Spanish Land Registrar’s Association, the sale of resale properties during the second quarter of this year reached their highest level since the peak of the Spanish property boom in 2007.
The surge in the number of resale property sales has generated a strong recovery in the Spanish property market this year. Of the total 199,408 properties sold to the end of the second quarter of this year, 99,343 were resales.
The combined number of resale and new build property transactions registered during the second quarter increased 4.99% reaching 113,738 sales. “To find quarterly property sales figures higher than those in Q2 2017 we have to go back to Q1 2011,” commented the report, going on to state “This situation clearly shows the intensification of property sales and highlights that the market’s strength lies in demand,”
At just over 20,000 transactions, completed new home sales are a long way from the 110,000 units sold at the height of the property boom, however the registered figures only include completed properties, the rapidly growing number of off-plan sales will not appear for many months.