Spanish property sales up in January

Spanish property sales up in January

Sales of property in Spain rose in January compared with December 2011, although the volume of transactions is still down year-on-year.

According to the latest figures from the Spanish national statistics institute (INE), the amount of property purchases increased by 42.3 per cent in the first month of 2012, compared to December last year.

The INE also revealed the majority of transactions related to urban real estate, with just 13.8 per cent of the sales recorded for rural properties.

And buyers also appeared to be most interested in new-build property, with just over half (54.1%) purchasing new builds over traditional properties.

The good news for those considering an investment is that the Spanish holiday homes market is also showing an improvement, with INE data published earlier this month revealing the number of people staying in this type of accommodation increased by 4.7 per cent in January, compared to the same month in 2011.

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