According to Premier Marbella news sources, a report released by the Ministry of Development provides detailed information on recent developments in the Spanish property market indicating that between April and June 123,159 property sales were completed.
This information shows that this is the highest quarterly figure since the end of 2012, just before tax relief for the purchase of a property disappeared and is the second best figure recorded between April and June since 2010 (with 153,164).
According to the Ministry of Development, the number of transactions has increased by 18.8% over the first three months of the year (between January and March closed 103,592) and 15.1% year on year (in the second quarter of 2015 a total of 107,000 transactions). The volume of purchases and sales between July 2015 and June 2016 were 435,816 housing transactions formalized before a notary, which is 13.2% more than in the previous 12 months.
Leading Marbella property specialist Romano Keogh commented that despite the rebound, the figure is still far from the levels recorded in the middle of the Spanish property boom. In virtually all trimesters of 2005, 2006 and 2007 the number of transactions exceeded 200,000 operations, with 251,649 in the second quarter of 2006 the historical peak
Regional results from the Ministry of Public Works places Andalusia at the head of the property transactions. Andalusian provinces have accounted for 23,853 property sales transactions. As regards the nationality of the buyers, 17.7% corresponded to foreign investors (21.798). Malaga is one of the provinces that registered a highest number of property purchases by foreign residents with 2,720 sales transactions.
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