Property sales transactions in Spain continue to soar in July

Spain's National Institute of Statistics reported a total of 45,900 property sales transactions in the month of July.

According to the latest report by the INE, a total of 38,120 second-hand Spanish properties exchanged hands in July, and a total of 7,780 new-build properties were sold.

The market for resale property in Spain dominated with around 83% of all transactions.

Bringing the approximate total of property transactions to 308,000 in the first seven months of 2018, July had the third highest monthly figure, showing a 16.9% year-on-year increase.

According to the official figures published by the Instituto Nacional de Estadística, the top four places in Spain for property sales in July were in Andalucia, Catalonia, the Valencian Community and Madrid.

The region of Andalucia, which includes the Costa del Sol, saw property transactions increase by 20.4%.