Good news for Spanish property market

Sales of Spanish properties saw a recovery in April of almost 17% when compared to the same period last year, with the resale market in partuclar, showing encouraging growth of nearly 27%, with the sales of new properties also showing an increase of around 10%.

The Institute of National Statistics revealed how statistics for April showed that this was the 4th consecutive monthly where a marked increase in Spanish property sales were noted.

There had ben speculation that this was a rush to buy property ahead of the IVA/VAT increase which comes into effect on July 1, however resale property remains unaffected by any changes to the restructuring.

April saw the sale of 34,326 properties, 3,000 down on March, with more than half of the sales seen in the regions of Andalucía, Cataluña, Madrid and the Valencia, with most transactions being completed in Andalucía, at 6,586.

The data for April 2008 marked a decrease in sales of almost 25%.