spanish property sales in first official increase in 2 years
News Posted On: 11 March 2010
Sales of property in Spain were up 4.1% year on year in the fourth quarter of 2009 the housing ministry has said. This is the first annual increase in 2 years. The number of sales to foreign residents in the fourth quarter of 2009 also increased by around 12% year-on-year and 21% compared to the previous quarter to a total of 7340.
Developers and agents have been quick to affirm the figures, with reports of increasing sales frequent.
"Our sales for January 2010 have increased by almost 200% on 2009," said Chris Mercer, managing director of Murcia-based agent Mercers. "We have already achieved the same number of sales in the first two months of 2010 as we did for the first quarter of 2009."
"Buyers have realised that prices have already come down and that the good units are going now if they haven’t gone already," said Javier Ballester, director general of Taylor Wimpey.
"We believe that the confidence is returning to the international buyers as they can see the great offers that are now available in Spain and with a lot of European countries predicted to leave the recession this year there is not so much financial fear," said Alfredo Milla, director of international investments at Mediterranean.
Their statements confirm those that we have made in recent months, especially those of Javier Ballester. The people who have the cash to buy are not waiting; they are unwilling to risk losing out on a great bargain now that people are buying again.
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