Increase in Spanish property sales

Spain’s Ministry of Housing reported yesterday how 149,527 property sales took place during the second quarter of this year – up 24.7% on last year’s figures .

The major reason here was reported as being due to the increase in property re-sales, which surged by 48.3% and off-plan property sale, which increased 4.6% over the same period last year.

A spokesman for the Ministry of Housing said how the April – June period represented a third consecutive month of growth which had begun at the end of 2009.

Of the homes sold in the second quarter, 67,895 (45.4%) were new build, and 81,632 (54.6%) were re-sale properties.

Spain’s foreign residents purchased a total of 8765 properties over this period, 46% more than in the first three months of last year, however, non-resident foreigners bought 700 homes.