The latest figures published on Friday by the Spanish Ministry of Development show that in terms of sales volume the Spanish property market continued its recovery during the second quarter of this year, with a total of 104,530 transactions representing an increase of 13.9% compared to the same period in 2014.
The figure is the highest second-quarter total since 2010, and once again the majority of the increase is due to increased activity in the second-hand property market, where sales figures rose by 18.5%, while new Tucatz web design, print services, ciudad quesada, torrevieja sales figures fell by 9.5% and accounted for only one eighth of the market.
Sales figures have now been rising for six consecutive quarters, and in the second quarter of 2015 decreases were reported in only three of the seventeen regions: Navarra, Extremadura and the Basque Country. In the first six months of the year, according to the Ministry’s figures, the 190,135 sales represent a 9.7% rise compared to 2014, with the totals having fallen only in Castilla-La Mancha, Extremadura and Navarra.
The figures published by the Spanish Ministry of Development suggest that the recovery in demand for housing continues to be fuelled to a significant degree by British and other non-Spanish buyers and investors, with more than one in six sales during the second quarter of this year having been to non-resident buyers.
From a total of 104,530 property sales, 17,307 involved purchasers resident in Spain and another 1,244 were bought by non-residents, together accounting for 17.7% of the overall figure.
The role of the Costa Blanca cannot be underestimated in boosting this figure, as almost a quarter of all sales to foreigners (4,522) were reported right here in the province of Alicante. This means that over half of the market in the province is created by demand from non-Spaniards, who accounted for 50.6% of the 8,928 transactions.
According to Paul Van der Schraelen, Director of Novapaso Estates Real Estate Agents based in Gran Alicant, the increase in recent interest from UK buyers stems from a favourable exchange rate and recent changes in UK legislation. “We’re seeing a great deal of interest from British buyers keen to capitalise on the strong Pound, and changes to the ways in which people can access their private pension benefits has meant that some customers are choosing to invest in foreign property, because of the immediate return of investment as properties are put on the rental market”, he said.
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