Spanish Property Sector recovery still going strong says BBVA

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According to the latest figures from the General Council of Notaries, the number of house sold in January grew by 2.4% compared to December. This confirms the on going growth trend observed in Spain in the last few months.
The strong recovery of the Spanish property market is mainly driven by a drop in unemployment figures again in February, a YOY (year on year) household wealth that grew by 3.5% and a continuous reduction of the cost of financing, with mortgage rate for new purchasing transaction falling again to 2.58% in January.
According to the latest figures published by the National Statistics Institute (INE), the price of housing also grew by 1.8% YOY, another sign of the strong sector recovery, with the Balearic Islands, Andalucía, Valencia, Madrid and the region of Murcia s as clear winners.
With the House pricing back on the rise and a favourable £/€ exchange rate, no wonder more and more UK investors make their move currently on the Spanish property market.
BBVA Spain Real Estate Flash (PDF) »
INE Housing Price Index (PDF) »
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