Housing Update September 2017

Spanish Property Sales are 14% higher than last year!
In the year to date, the average increase in Spanish property sales stands at 14% according to the Institute for national statistics (INE) – This measures the amount of property transactions in the national land registry, probably the most accurate way to measure actual sales and transmission of property.

The greatest increases are recorded in Northern provinces with the largest population and economic/industrial base. This clearly indicates the market is internally driven and is further proof that the Spanish economy is well on the mend as unemployment figures drop and many new jobs are being created. Further evidence of this has been experienced in the Costa Cálida and we can all agree that July and August has been a boom year for coastal towns with hardly a parking space or restaurant table available. In my 17 years in Spain I have never seen the Costa Cálida busier!

How has the Costa Cálida/Murcia region fared in the past 8 months?
The answer is not as good as previous years. In fact last year, Murcia was topping the table for house sales growth, but this year we came 21st out of 27 provinces. In fact several regions popular with overseas buyers found themselves in low positions. Alicante bucked the trend with an 18% increase in property sales whilst Tarragona (Costa Dorada) - Asturias and Girona came 1st, 2nd and 3rd respectively on 26%/25%24%, again confirming that the industrialised regions, rather than the overseas buyers hotspots are where the growth is.

Murcia only managed 4% growth in property sales; well below the average of 14%. Much of that growth came from the internal market driven by the upturn in the local economy. There are however, no figures available to date giving the proportion of foreign buyers in that equation.

From our own perspective, we have seen growth in all areas. I've mentioned many times in my previous columns that buyers are not a problem to find, but finding fresh and reasonably priced properties is. In the past 2 months we have been fortunate to take on 50% more new instructions than at the comparable time last year. It's easy to understand that an agent with 1000 properties for sale will sell more properties than an agent with say, 100 properties. Choice is everything for today's buyers and as a result of having our largest ever selection of resale properties, our sales are up 50% on last year. September and October is already looking to be even busier than last year with prospective buyers and I always say, September to December is the busiest time of the year for property sales. If you have a property for sale you can contact us using the details below.

Kenneth Whettall
Commercial Director
Fuente Alamo Real Estate/Murcia Coast & Country
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Tel 0034 968 598 173