Spanish property sales strongest since 2010
Anocheche, Costa del Sol Photo: Antonio
Spanish property sales totalled 91,338 in the three months ot June 2014, according to the Ministry, a surge of 12.1 per cent compared to the same period in 2013. The rise marks the strongest second quarter for Spain's property market since 2010, as positive sentiment continues to climb.
Indeed, where previous quarters have been impacted by the start or end of tax discounts, which sparked or slowed down activity accordingly, the Ministry notes that the quarter's data is clearer, providing a more accurate picture of improvement.
Recent figures have shown a promising stabilisation in real estate values following many years of sharp declines, with one index recording the first price rises since the financial crisis. While data still conflicts on values, though, reports agree that sales have improved, as foreign buyers take advantage of the falling prices.
Indeed, 16.4 per cent of deals went to foreign buyers, according to the Ministry, the 12th quarter of rising overseas demand in a row. Figures from the General Council of Notaries also confirm the trend: during the second quarter of 2014, the Notaries recorded 18,466 purchases from foreign buyers, 11.9 per cent higher than the same period in 2013. International buyers now make up more than one in five (20.4 per cent) of all purchases.
The Canary Islands led the way in terms of international demand, says the Ministry, along with five other areas and two cities, while the areas that did suffer a decline in sales saw a "much more moderate" decrease.
Demand is growing significantly on the Costa del Sol as well, says homebuilder Taylor Wimpey España, with discerning buyers looking for high quality second homes and primary residences.
Penthouses in particular are proving popular, with Globaliza.com reporting price premiums of 30 per cent for such dwellings.
Marc Pritchard, Sales and Marketing Director of Taylor Wimpey España, which has just released a new phase of its Avalon development, with penthouses and two and three bedroom apartments from €265,000, comments: "We've seen a lot of interest from foreign buyers in the Costa del Sol recently and our penthouses are proving particularly popular. Buyers are looking for extremely high build quality at the moment, along with serious luxury when it comes to interiors. Obviously this is great news for Taylor Wimpey España as this is our ethos.
"As well as Avalon, our La Floresta Sur site near Marbella is proving a hit with buyers this year. Two bedroom apartments are available from €178,000, with buyers looking to enjoy the area's fabulous sea and mountain views, lovely beach and delicious cuisine. Two large communal swimming pools and landscaped gardens provide a delightful setting for La Floresta Sur, while free unlimited use of all the facilities of El Soto Golf Club also add to the development's family appeal."