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News: Magic Property Sales Milestone Passed - A New Record

24 May 2017 Back
Magic Property Sales Milestone Passed - A New Record

A new record has been achieved; for the highest monthly number of Spanish property sales taking place since February 2011. In fact, 7 out of 10 Spaniards themselves firmly believe that now is the time to buy Spanish property, as confidence in the country's real estate market climbs.

The latest official statistics for March of this year spell out the fact that 40,461 homes were sold, which represents an increase of 26.9 per cent on the February figures. This is also the highest monthly number of property sales since February of 2011 - more than six years ago - when just over 45,000 homes changed hands.

The data, which was supplied by Spain's National Statistics Institute, shows that property sales have now increased constantly for 14 consecutive months! This despite the fact that February's increase was small, at just 1.2% but - with spring fully underway - the figures for March show a healthy 13.6% increase.

The accumulated increase from the first quarter of 2017 now stands at 15%, whilst we eagerly await the sales figures from a reportedly excellent April. Sales figures have proven to be solid across the board. New home sales alone rose to 7,361 in March; which shows an increase of 21.2% year-on-year. Second-hand home sales performed even better, jumping up by 28.3 per cent in the month to reach 33,100 separate transactions.

A figure that high has not been seen for almost 10 years, since September 2007. 'Idealista' expert Fernando Encinar says that surpassing 40,000 sales in March is a 'Milestone' in the normalisation of the Spanish property market. Real estate is now a stable asset, and the recovering market now offers "Real Opportunities" for investment.

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