As of September almost 400,000 homes sold in Spain in 12 months

September’s property sales have continued the upward trend, reflecting the strengthening nature of the Spanish economy.

The latest data from Spain’s Office of National Statistics (INE) published yesterday revealed that in the 12 months to September 30, 395,000 homes have been sold in the country…

This represents a 13.2% increase year-on-year, and is the highest figure since the 12 months to the end of July 2011.

While that magical 400,000 figure is still some way short of the 775,000 homes sold in the 12 months of 2007, it does represent a healthy return of activity in the Spanish property market, and continues a steady and stable period whereby 24 out of the last 25 months have seen the number of home sales increase.

For September 2016 the figure is 34,931 homes sold for the month, which is also 13% higher than in September 2015. Taken for the year as a whole, the 311,000 properties sold so far in 2016 would suggest that the year might well end with the highest number of housing transactions since 2008 – the final year before the global credit crunch and subsequent Spanish recession.

In terms of home sales per 100,000 residents, Andalucía’s figure was over 100, which indicates that there is currently a good split between local, domestic buyers and international foreign buyers.

This has long been the case in Andalucía, where the property market is buoyed by the robust sales evident on the Costa del Sol, and particularly the luxury homes sold regularly in and around Marbella to wealthy buyers.