QUARTER TWO PROPERTY SALES GROWTH

Figures released this week by the Ministry of Development reveal that Valencia is in third place in terms of property sales in the second quarter of the year, second only to Madrid and Barcelona, with Torrevieja once again making the top list.

In Valencia, there were 1,633 housing transactions in the second quarter of the year, whereas Madrid saw 6,705, and Barcelona registered 3,395. The list then continued to show how there had been 1,293 in Sevilla, Zaragoza registered 1,286 unit sales, and then Torrevieja with 1,216 homes sold, just ahead of Marbella with a recorded 1,165 sales.

Nationally, home sales up 12.1% in the second quarter compared with the previous year and totalled 91,338 transactions, representing a new record in sales since the same period of 2010. Purchases and sales of resale homes accounted for 84.3% of the market share between April and June, when 77,042 homes exchanged, the remaining 15.7%, or 14,296 properties, being new builds.

A factor also highlighted by the ministry is that neither sales in the second quarter of this year, or last, are influenced by tax credits.

Moreover, sales to foreign buyers increased once again, reaching a record high of 14,952 home purchases, with the Alicante province, home to Torrevieja, registering the most foreign investments in the country, with 3,993 homes purchased by foreigners between April and June, ahead of Málaga with 2,222 homes, Barcelona with 1,317, Tenerife saw 987 foreign purchases and Madrid with 933. In addition, foreigners not residing in Spain bought 1,202 houses, registering an increase of 13.7% compared to a year earlier.

In total, the acquisition of homes by foreigners, both resident and non-resident, captured 17.7% of the market share, with a total of 16,154 transactions.

Filed under: http://www.theleader.info/article/45044/

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