Offshore property boost as sales ‘up in Spain’
24.09.2009
Spanish property sales are continuing to rise, it has been noted.
After official figures from the National Institute of Statistics revealed a low of just 26,215 transactions in April, the figure has increased every month since, Kyero.com has observed.
This saw July record the highest tally this year at 33,694, something that may suggest the property market has bottomed out.
Such a trend might encourage those moving abroad to Spain, although the investment could need to be a long-term one as the portal has warned that figures are likely to fall again.
It stated that as new build and resale transaction numbers are almost the same, the total of sales is likely to drop as the supply of new builds coming on to the market dwindles thanks to the construction slowdown.
However, interest in Spain has risen, according by recent figures from international mortgage firm Conti revealing that 22 per cent of enquiries this year have been about the country.
This is up from 14 per cent for the whole of 2008.
Source: Halifax International
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