SPANISH PROPERTY SALES ON THE INCREASE

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There is no denying that the Spanish property market, like many others around the world, has been hit hard by the current recession, but if the figures just released are anything to go by, it looks as though things may be turning the corner.

Last Friday saw the Spanish government report the first increase in house sales in three years.  In the final quarter of 2009, property sales rose by 4.1% against the same period of last year, making it the first year-on-year rise since 2006.   With a total of 130,572 properties finding their way off the market between October and December, this represented a 21.4% increase on the period between July to September.

With the recession in Spain really starting to bite towards the latter end of 2008, the property market during the whole of the year 2009 was never likely to be anything other than fairly dismal.  Indeed, with just over 413,000 sales throughout the course of 2009, this represented an 18% decrease over the previous year and a drop of 46% on 2007.

Reports indicate that the national statistics seem to be suggesting, however, that Spanish property prices may well be bottoming out, making this an excellent time for investors to make their move.  Although recovery may still be slow to arrive, as is always the case, it is bound to happen, and it is those who get their timing just right who will undoubtedly make the greatest gains.

Of course with its great climate, ease of accessibility and the cheap cost of flights into Malaga Airport, the Costa del Sol has continued to be a firm favourite for holidaymakers despite uncertain economic times.  As the pressures begin to ease, it is also almost certain to continue to be one of the most popular choices for those in the UK who are looking to emigrate or invest in a holiday home or rental property.

Posted via email from PropertiesDirectSpain.com