The number of property sales transactions across Spain rose for the sixth consecutive month in September. Showing a 9.7% increase compared to the same month in 2017, figures increased by a comfortable 2.3% on August, when a year-on-year increase of 7.4% was registered.
According to the National Institute of Statistics (INE), a total of 42,766 residential properties were bought and sold in September, the majority of which were second-hand homes at 34,750, and the remaining 8,016 were new-builds.
Figures show that second hand properties and new-builds are now almost equally in demand in some regions, up by 9.6% and 9.8% respectively. This is a sharp contrast to the period that followed the economic crash in Spain where second hand property purchases alone helped spearhead the recovery of the property market. Figures reveal that buyers are now looking for lucrative opportunities that come with owning new-builds with high rental potential in touristic hot spots along the coast of Spain.
The southern Spanish region of Andalucía, which includes the Costa del Sol, saw the highest volume of property sales and purchases across Spain in September, at 8,519 in total. The Costa del Sol offers a great variety of properties for sale for every budget: from bargain apartments, to modern new build properties.