Healthy heart beat to Spanish market
Figures released by the National Institute of Statistics are proving that the Spanish property market is far from dead and buried. Fundamentally since 2008 until January of this year, there were no increases in property sales in Spain thanks to the global recession, but that it seems is all about the change.
The first sign of growth was in January when the market saw an increase in sales of just over 2%, with February 2010 being nearly 20% up on the same month in 2009. The increased activity is spread between lifestyle buyers, opportunistic investors, and commercial investors, buying into urban, rural, under developed regions, over developed regions, commercial property, new builds and renovations. February’s activity was predominantly urban based sales with the Cantabria region reaching the top of the figures list.
With property prices in Spain back to the levels of the early 2000’s and now having accepted as having reached rock bottom, investors are showing clear and healthy signs of returning to this once popular market.