The hopeful predictions of a real estate recovery for the world’s favourite tourist destination have come true, which is excellent news for both sellers and prospective buyers who can still find property before the prices really start climbing.
Spain’s real estate market continues to impress industry experts after officials released excellent annual results for 2015.
Key figures for 2015
• Nearly 10% more property transactions
• 1,100 homes bought per day on average
• One in five homes sold to foreign nationals
• 36,000 transactions less than 2010 record
Everybody is buying more property
According to the latest data published by the Ministry of Development, there were 9.8% more transactions in 2015 than 2014, marking a record high since 2010. In total, 401,281 homes were sold last year, which is the equivalent of 1,100 per day on average.
During the last three months of 2015, 114,598 homes were sold, representing a 2.4% increase on the same period in 2014. However, considering that nearly 36,000 more transactions were closed in Q4 2010 compared to Q4 2015, there is good reason to believe that the market will continue to grow and improve.
To read the full report please CLICK HERE.
Report by Leigh Stewart
