25 Dec, 2017 @ 10:30
1 min read

Spain has officially recovered as property sales match pre-crisis levels

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SPAIN has had its best quarter for property sales since the 2008 financial crisis.

Some 121,561 units were sold in the third quarter of this year, a 16.7% increase on last year, according to the development ministry.

It’s just shy of 2008’s third quarter when 122,949 units were sold.

From September 2016 to September 2017, some 516,643 homes were sold, an increase of 15.8% compared to the previous twelve months.

All the autonomous communities registered increases in the number of home sales in the third quarter of the year.

The highest increases were La Rioja (+ 32.9%), Cantabria (+ 31.9%), Murcia (+ 25.6%) and Andalucia (+ 23.6%).

Ceuta and Melilla also registered significant increases (+ 26.3%).
Transactions carried out by foreigners resident in Spain experienced year-on-year growth for the twenty-fifth consecutive quarter.

Specifically, the increase was 17.6% compared to the third quarter of 2016, totaling 20,257 purchases.

Likewise, purchases made by foreigners, both residents and non-residents, reached 24,009 operations, which represents 17.4% of the total.

By province, the ones that registered the highest number of sales by foreign residents were Alicante (4,619 operations), Málaga (2,429), Barcelona (1,937), Madrid (1,564), Valencia (1,183) and Santa Cruz de Tenerife (1,175).

Laurence Dollimore

Laurence Dollimore is a Spanish-speaking, NCTJ-trained journalist with almost a decade’s worth of experience.
The London native has a BA in International Relations from the University of Leeds and and an MA in the same subject from Queen Mary University London.
He earned his gold star diploma in multimedia journalism at the prestigious News Associates in London in 2016, before immediately joining the Olive Press at their offices on the Costa del Sol.
After a five-year stint, Laurence returned to the UK to work as a senior reporter at the Mail Online, where he remained for two years before coming back to the Olive Press as Digital Editor in 2023.
He continues to work for the biggest newspapers in the UK, who hire him to investigate and report on stories in Spain.
These include the Daily Mail, Telegraph, Mail Online, Mail on Sunday and The Sun and Sun Online.
He has broken world exclusives on everything from the Madeleine McCann case to the anti-tourism movement in Tenerife.

GOT A STORY? Contact newsdesk@theolivepress.es or call +34 951 273 575 Twitter: @olivepress

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