Spanish Property Market Bounces Back by 16% in February

More good news can be seen in the current set of indicators from the National Institute of Statistics (INE). The latest figures show that the Spanish property market grew by 16% in February compared to the same month last year, building on the trend that started in January. This suggest the market has touched bottom and is starting to recovery after 2 years of declines.

 

Not including social housing, there were 35,720 home sales in February, 21,368 of them newly built and 19,665 resales. The following graphs shows how sales have developed over the last 12 months: The chart below shows total property transactions over the period.

 

Although transactions increased in February for the first time in what has been a very long time, they are still a long way down from the 67,187 clocked up in February 2007.

This may be the start of a bounce back.