Spanish property sales now regarded as stable as they increase five months in a row

Year on year property sales in Spain have increased for five months in a row, signalling that the residential real estate market is becoming more stable. The latest figures from Spain’s National Institute of Statistics (INE) shows that sales increased by 10% in July on an annual basis and by 9% on a quarterly basis. ‘After five consecutive months of annualised sales increases it’s clear the Spanish property market is starting to recover in volume terms, as more buyers enter the market. The figures confirm that overall sales are now stable, if not growing slightly,’ said Mark Stucklin of Spanish Property Insight. ‘Markets are all about transactions and prices, which determine volume and value. Increasing transactions are a sign of confidence that improve liquidity and reduce risk. When buyers outnumber sellers prices start to rise. After almost eight years of consecutive declines in home sales, that is welcome news for Spain but it doesn’t mean the Spanish property crisis is over,’ he warned. ‘It’s now crystal clear that the Spanish property market has established a floor in transaction terms, suggesting sales are unlikely to fall any further. […]

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