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23/09/2010 - Spanish home sales surge  23/09/2010 - Spanish home sales surge

The Spanish property market seems set to surge as figures show a dramatic rise in sales of new homes.

The annual figures from the Spanish National Institute of Statistics show that sales of new property have risen by twenty one percent in the last twelve months and now account for a higher proportion of total sales than resale property.

Typically property markets experience a higher ratio in sales of resale to new builds.  However many developments are now offering 100 percent finance which is making new property even more attractive to buyers.

Overall, Spanish property sales have risen by fifteen percent year on year to 38,800 in July.  This gives a further indication that property sales in Spain will continue to increase in the near future.







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