2017 Welcomes Four-Year-High for Spanish
Property Sales in January
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| Spanish property continues to be buoyant |
Not many people consider January to be the ideal time to do
a bit of property hunting. It may be the month of January sales, but there’s a
big difference between the high street and the Spanish property market.
With that said, official data from property registrars in
Spain has shown 38,457 homes were sold during January in Spain, making it the
single best January since 2013 and an overall increase of 18.1% compared to
January of 2016.
The January property sales of this year are so strong that, if it
wasn’t for the artificially created rush for demand of January 2013 (caused by
upcoming changes to tax legislation) then it would be around a decade since the
figures were this high.
On the regional level, the markets in Cantabria and the
Balearics were the homes of the highest year-on-year growth, with growths of
45.1% and 40.5% respectively. An interesting statistic is that there was
actually less demand for property in 2016 for the Canary Islands.
With such a strong start to the year, Spain is set to
deliver a powerful performance on the property front during 2017. The figures
from January are just one part of a larger trend showing how the 410,000 home sold in Spain over the past 12 months represent a stunning 15.6% increase over
the past 12 months, with even more growth forecast for the next 12 months.
