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Figures published by the Spanish Statistics Institute (INE) confirm that market recovery is well under way and that sales activity now lies at levels on a par with those at the start of the crisis.

Málaga Andalucía 300x196 - Property sales in Málaga reached in 2015 their highest level since 2008In Málaga province last year, 24,705 properties were sold, the highest figure since 2008. 2015 saw an increase of 11 per cent in sales and was the third consecutive year of growth. The Málaga property market has been growing since 2013 while national and regional recuperation did not start until 2014.

The rise of 11 per cent for last year in Málaga does, however, mark a slight slow down in recovery when compared to the 14 per cent growth in 2014. But experts point out that this is because high increases are easier when initial figures are very low.
...continue reading "Property sales in Málaga reached in 2015 their highest level since 2008"

Residential property sales in Spain are continuing to rise with the latest data showing that the number of transaction recorded by notaires increased by 7.3% compared with Menorca 6 300x288 - Residential property sales up for 18th month in a row in Spainthe same month in 2014.

It marks some 18 months of continuous growth, the figures from the General Council of Notaires shows with its analysis report saying that the recovery in the housing market is being maintained.

A breakdown of the data shows that apartment sales increased by 6.2% year on year, more than double the increase recorded in October 2015. This was due to sales of free price apartments rising 8.3% and also sales of second hand apartments rising by 12.2%.

Sales of individual family homes also saw strong growth, up 11.4%, recording nine months in a row of double digit increased. However, sales of new housing fell for a tenth month in a row, down in November by 18.6%.
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The number of house sales in Spain increased 15.5% in February compared with the same month in 2014 – the largest rise in recent months – according to data released by villa in Mijas 300x200 - Number of property transactions in Spain has risen for six months in a rowthe National Statistics Institute (INE) on Thursday.

Property sales have now increased for six consecutive months as the market gradually begins to recover from the huge crash that hit when Spain’s housing bubble burst at the end of 2007. The rise can be attributed exclusively to a 50.4% increase in sales of existing homes – 21,613 of the 29,714 transactions carried out in February were of this sort.

In contrast sales of new homes dropped 28.6% compared with the same month last year, with just 8,101 operations.
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Currency exchange rates are encouraging even more foreign buyers back to the Spanish property market and this is reflected in increased sales, especially in popular areas.
apartments in Marbella 300x166 - Exchange rates and golden visa benefit the purchase of properties in Spain

New legislation to relax the requirements for Spain’s golden visa which allows non-European Union buyers to gain citizenship if they invest in the real estate market is also set to encourage more buyers from overseas.

The golden visa, which was introduced in September 2013, has seen 530 foreigners granted a visa so far with the majority, some 490 people, doing this through putting at least the minimum of €500,000 into property. Most of the property investors have been Chinese, Russian or Arab with business entrepreneurs coming largely from the United States and it has earned the Spanish economy an estimated €700 million so far.
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The latest figures released by the Ministerio de Fomento (Ministry of Works) reveal that Málaga province had the second highest number of property sales in the country, after Alicante, during the third quarterly period of 2014.

46353 1412360 foto 188895 300x225 - One in three properties sold in Málaga goes to a foreign buyerThe total number of properties sold between July and September in 2014 in Málaga was 5,900 (4,845 existing homes and 912 new builds) and of these, 1,918 were sold to foreign buyers.

The announcement makes it clear that Málaga’s property market is slowly recovering. These latest figures are higher than those during the same period in 2008.

Málaga is also the fifth Spanish province with growth in terms of percentage. Between July and September 14.2 per cent more transactions were made, which was only beaten by the provinces of Ceuta (60.8 per cent), Guadalajara, Madrid and Santa Cruz de Tenerife.
...continue reading "One in three properties sold in Málaga goes to a foreign buyer"