Spanish Property Sales:
The property market statistics for 2015 have recently been released through collated data from notaries throughout Spain.
Overall, the figures are extremely positive and reflect a more much active market. In total the notaries report an increase in total sales of 8.6% over the figure from those exhibited in the Spanish Property market 2014 figures.
Sales of new build properties continue to represent a much smaller percentage than during the boom years; in 2015 new build sales accounted for only 8.8% of total sales. At the height of the market the figure was over one third. The resale market continues to strengthen.
The annual property sales figures have now increased for two consecutive years.
The average property price has increased by 1.9% over 2014.
Positive change for the Spanish Property Market:
The number of foreign buyers looking to buy property in Spain shows confidence is re-entering the Spanish market. In 2015, one in seven buyers were non-Spanish nationals. Of this figure, 21% were British. The investment from French, German and Scandinavian countries also remain strong.
The Euribor reference rate remains at a record low level – actually negative for a number of days. Therefore the cost of borrowing is extremely attractive and, coupled with reasonable property prices, ensures that the Spanish market is likely to continue to grow throughout 2016.
If you are considering purchasing a property in Spain or wondering how to buy a house in Spain, please don´t hesitate to contact us for a no-obligation consultation. We are also able to assist with mortgage finance should you need a mortgage for Spanish Property. We work with number of the leading banks in Spain and have access to excellent terms and conditions.