Increase in sales for Spain at the start of Q4

A sprinkling of good news is what we all like – and more positive trends are really happening in Spain … Official information shows that there was a nice increase in the numbers of clients making the most of the lower priced properties in Spain in September, with sales numbers increasing again for the second successive month.

Government stats reveal that there were 22,648 home sales in September (figures exclude social and state housing), up 3% (September 2011) and the second month-on-month increase.

Although the volume of home transactions still remains fairly low, the market place is showing signs of a positive move – 20,000 sales a month works out to 240,000 + per year.

We mentioned last month that “prices and price comparison levels had now dropped to around 2003 levels” … After speaking with new build developers it’s been made clear that they really don’t want prices to rise to silly levels again” mentions Conrad Bedford (MD) Overseas Property Shop … The low cost of todays properties is the result of the current economic crisis, this looks set to remain for the next few years.

In fact, the average value of property in the country has actually dropped 9.5 per cent year-on-year, with coastal areas experiencing significantly lower prices, according to the various leading commentators and website information portals.

Nevertheless, this news has opened the market to a wealth of brand new buyers, previously unable to buy a Spanish home due to high priced property back in 2008/09.