Spanish property sales have risen 11 months in a row, as buyers from overseas continue to pounce on affordable bargains.
Official figures show that sales have increased 14 per cent in the past year. The data, published by the National Statistics Institute, shows that 32,714 transactions were registered in July 2015, 13.9 per cent up on the same month in 2014.
Spain continues to have difficulties in shifting its newer homes, with new build property sales dipping 38.1 per cent, a decline that is offset by a 43.1 per cent surge in existing home sales. But some new developments sold out completely this summer, according to one developer, as units offering the right combination of location and price remain attractive.
Indeed, the highest number of sales per 100,000 inhabitants was registered in the Valencian Community, while Andalucia accounted for the largest real number of home sales, both home to the popular Costa Blanca and Costa del Sol respectively.
The Balearic Islands saw the biggest increase in sales – up 37.4 per cent year-on-year – while Extremadura led the decreases with a fall of 9.8 per cent.
British buyers are at the front of the international charge, according to Spanish homebuilder Taylor Wimpey España, thanks to the strong spending power of the pound. German, Scandinavian and Belgian buyers also “contributed significantly” to the rise in sales.
In total, August 2015 saw sales double for the builder year-on-year, with five of the firm’s developments selling out completely.
“Early phases of four others have also sold out,” adds Sales and Marketing Director Marc Pritchard, who says it has been a “really good” summer.
“It’s been at least five years since I’ve experienced such an intense level of enthusiasm for Spanish property. August was the icing on the cake – sales figures hit twice the levels that they did the year before.”
Part of Taylor’s success has been driven by the demand for the Costa lifestyle, with projects La Vila Paradis and Brisas de Alenda Golf on the Costa Blanca both releasing new phases and, on the Costa del Sol, La Floresta Sur near Marbella and Miraval at Mijas both attractive to keen golfers.
The sales rate is still “extremely high” at the moment, continues Pritchard.
“We would definitely advise those thinking of buying a second home in Spain to act sooner rather than later.”