Spanish Property Market – Comaskey Properties

Every few days people ask what is the market like at the moment? Well, around La Zenia, it is doing pretty well, as can be seen by the cranes and number of new houses going up near La zenia Boulevard and the general buzz in the air.

It can also be seen in the major property statistics that the property market in Spain is better than last year. The Ministry of Development posted that the first quarter of this year had 81,358 sales, almost 50% up on the same quarter in 2013! In the 12 months ending 31st March 2014, there had been 327,091 sales, 8.8% higher than the previous calender year.

These levels are of course much lower than in 2007, so the recovery is cautious, and also substantially aided by foreign buyers keen to pick up bargains at low prices. We are seeing that; it is the keenly proced properties that are selling, and to non-Spaniards. The Ministry of DevelopmentĀ“s statistic is that 16.8% of buyers were non-Spaniards in the first quarter of this year; on the Orihuela Costa this figure is of course much higher. British buyers in Spain top the figures, followed by the French and now the Russians are third. It will be interesting to see how the figures develop in the next few years.

You might be interested in these related articles:

  • Archives