Spanish
Homes Sold at Highest Volume in Five Years
The Economic Ministry published new figures last week that
show the amount of Spanish homes sold in June was higher than for the past five years.
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| Spain is defiantly back and investor are buying |
Sales were on the up in 15 of the 17 autonomous communities
of Spain during the month. The only communities that failed to report an increase
were Navarra and La Rioja. June also can’t be considered a blip on the radar.
For the year-to-date the average number of monthly transactions has increased
by 16.4% compared to last year. Even taking the trend to the full past 12
months shows an encouraging increase of 14.7%.
The Spanish property market hasn’t seen such an increase in
activity since August of 2011. It’s especially encouraging given that Spain is
recovering from one of the worst recessions ever seen. Now though the Spanish
economy is recovering and GDP is set to grow by over 2.7% this year and next
year. Spain is also seeing a bumper summer season that is bound to brighten up
those dark post-recession days and make them a thing of the past.
More encouraging data about the Spanish recovery and
popularity came from the Airports Council International Europe (ACIS) this
week. They found that the Malaga and Alicante airports are two of the fastest
growing airports in Europe, seeing an increase in passenger numbers for the
first half of 2016 of 14.6% and 16.1% respectively.
Elias Bendodo, the president of Turismo Costa del Sol said
that the figures confirm what a great year the Costa is experiencing. Spain is
seeing record numbers of tourists and are growing in the European market as a
whole. If the first half of 2016 is anything to go by it looks the 2016 will be
a record year for tourism in Spain.
