Demand for Spanish property has not reached today's levels since before the financial crisis hit in the third quarter of 2008. Just over 510,000 Spanish homes were sold between September 2016 and September 2017, 121,000 of which were bought during 2017's third quarter, according to new figures released by Spain's Development Ministry.
The surge in property sales across the nation since the beginning of October marks a 16 per cent increase on last year's figures during the same period.
Foreign residents in Spain accounted for 20,257 sales transactions in the third quarter of 2017, up by 17.6 per cent on last year's figures. Popular regions with increased demand include La Rioja (up by 33 per cent), Murcia (up by 25.6 per cent) and Andalucía (up by 23.6 per cent).
Non-Spanish nationals, including non-residents accounted for a further 24,000 of the total sales transactions, an increase of 17.4 per cent. Among the most popular locations for foreign buyers were Alicante, Malaga, Barcelona, Madrid, Valencia and Santa Cruz in Tenerife.
The surge in demand from both foreign and national buyers has significantly revitalised the Spanish property market over the last year, sustaining the markets long-delayed recovery in the wake of the financial crisis in 2008. Last year's third quarter figures project a rosy year ahead for buyers looking to invest in a home in the sun, alongside encouraging rises in construction figures and building permits, particularly along the Spanish coastlines.
If you are interested in seeking out an investment opportunity on the Costa del Sol in 2018, please visit our website to view a selection of properties on the Costa del Sol currently available.