Data Shows Spanish Property Growth
Fuelled by Foreign and Domestic Buyers
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| The future looks bright as more and more confidence in buying returns |
If this increase wasn’t enough encouragement, the data shows
the interest from domestic and foreign buyers is becoming better balanced.
Domestic buyers – who still remained the bulk of the market
thanks to their numbers – fell out of love with the property market during the
recession. The property market was kept in good health thanks to an increase of
demand from British, German, Russian, and Scandinavian buyers.
2017 brought with it a stronger Spanish economy, which
increased the confidence many Spaniards have in their financial security,
driving up the amount of property and car purchases.
Spain remains a country of contrasts and not every market in
every region is seeing the same performance. The new build home sector is still
lagging behind, while sales of apartments are up 20.5% and family homes are up
15.6%.
The data from the notaries also revealed the average sellingprice of properties reached 2004 levels. They aren’t quite at the height of
their peak, but they are still higher than they have been for some time.
An interesting finding by the Land Registry, which ranks
sales based on the number of homes inscribed on the land register and not in
terms of actual sales, showed that March saw an increase in transactions of 30%
compared to March of last year.
