Costa del Sol property sales, rentals & management

Spanish property thrives with 17.3% increase in sales

Spanish property thrives with 17.3% increase in sales

January 17, 2017
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The number of property sales transactions registered in Spain increased 17.3% in November 2016 compared to the same period the previous year.

 

Sea view apartments for sale - Sierra Blanca, Marbella

Sea view apartments for sale – Sierra Blanca, Marbella

 

According to figures released by Spain’s National Institute of Statistics (INE), the amount of home sales inscribed in the Spanish property register totalled 30,806 with each of the countries 17 autonomous communities registering an increase. The sale of new homes, the sector worst affected by the 2008 crisis, increased by 4% in November whereas re-sale property sales were up 21%.

As to be expected the growth in sales was mixed across the country with the Balearic and Canary Islands registering an increase of 32.8% and 26.3% respectively, closely followed by Aragon and Asturius, both seeing 25% growth.

Novembers data continues a trend seen throughout 2016 with the eleven month running total property transactions to the end of November reaching 372,000 which represents an increase of 14.16% compared to the same period in 2015 . Should this trend continue we could see monthly sales figures breaking 35,000 in 2017.