According to recently published data from the Spanish Association of Notaries, the year-on-year increase in residential property transactions across the country was almost 10% for the month of August…
In total, 31,046 residences were sold in August compared to 28,251 over the course of the same month last year.
This figure is the justly-deserved fruit of the thriving Spanish property market (especially in recent months), buyers wanting to capitalise on real estate prices before inevitable quarterly increases nudge home values upwards and a proven demand for foreign and domestic investment in a second home on Spanish soil.
Other data worth pointing out is what the notary organisation estimates to be the increases in per-square-metre home values. It calculates the average selling price to have exceeded 1,265 euros per square metre, which represents a year-on-year growth of 3.3% for the eighth month of the year.
This appears to correlate with Tinsa’s year-on-year valuation for average residential property price increases and signals a strong market resurgence for all areas in Spain – not least of all the Costa del Sol.
Indeed, for sales to swell in August – typically a month for holiday-making and spending some well earned time off work – is a robust indicator of the strength of purchasing activity for the calendar year as a whole.
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