The Institute for National Statistics reports that residential properties sales in Spain went up by 23.6% in May – the highest recorded since January 2013 (INE)
In a separate report from the ‘Real Estate, Hospitality and Construction Capital Confidence Barometer’ Spain jumps seven places to ninth position among countries of greatest interest to investors hoping to make a property purchase in the near future. Spain has overtaken other European destinations including both France and Italy to reach ninth position.
According to statistics from the Consejo General del Notariado, the sale of homes has increased by 18.6% since March 2016 with Catalunya standing out with an impressive 24.4% increase. The price per square meter of homes has also increased with an average rise of 4% being seen across the nation.
The same statistics indicate that the sale of apartments has increased in a similar way to the sale of homes in general, once again Catalunya comes out particularly strong with an increase of 23.3%.
Residential construction is active once again in Spain’s major cities including Madrid and Barcelona thanks to keen foreign investment. Demand for luxury apartments and homes is increasing in cities indicating that the Spanish recovery is firmly on course. Foreign investors are finally able to take advantage of new build property following the almost complete stoppage of construction in the aftermath of the 2008 crash. Investors are now looking to Spain as an exciting investment opportunity thanks to a strengthening economy, competitive financing and attractive property prices.