Record Sales in 2018
So, statistics are now published that for the first time since before the country's financial crisis annual house sales here in Spain have gone over the half a million mark!
Figures published by INE (the National Institute of Statistics) confirm that a total of 515,051 homes were sold in 2018. It is believed that this figure was achieved due to a combination of factors, the economic growth, improvements in the job market, financial strength and that in the residential property market prices are lower than that in 2008 before the bubble burst.
This year marks a fifth year of increases in home sales numbers and is indeed a stark contrast to the worst years of the financial crisis (those of 2008 and 2009), when property purchases plunged by 25.1% and 28.8% respectively.
The greatest number of property sales recorded in 2018 per 100,000 inhabitants was in the eastern region of the Comunidad Valenciana, this was in the three provinces of Valencia, Alicante and Castellón on the Mediterranean coast, confirming 2,010 homes per 100,000 residents.
What this means is that one of Spain's most populated and popular regions was streets ahead of the rest of the country, given that the second-highest number of transactions per 100,000 residents was in the Balearic Islands at 1,641.
So if you are looking for a property on the coast give us a call here at GS Spanish Properties and let us help you fulfil your dreams………..