Buying surge boosts pre-owned property sales

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Although statistics can be dry and dull at times, we can honestly say that this particular set of figures is one that we’re delighted with and they are certainly not boring. The data we refer to comes from the Spanish National Statistics Institute (INE), which regularly reports on Spain’s property market, amongst other things.

Its most recently published figures are more like a great ‘end-of-year’ school report for the property world and agents like Altavista Property, because INE revealed an upward trend of 9% in home sales in Málaga province in the first three-quarters of 2014.

We’re not exactly surprised by that figure, since we’ve seen this trend in our own sales, but it is reassuring to have it officially qualified by an independent body. Of course, what is most interesting to us about this rise in sales—and which is also of significance for home owners—is that it is sales in second-hand homes, above new builds, that is buoying the market at the moment at the moment.

AVS01096 - AP- La Floresta, Elviria 04Of the 16,370 residences sold in Málaga province from January to September of this year, some 9,526 were pre-owned properties. This represented a 23.8% increase on the same period in 2013. However, these figures also include homes that have never been lived in but have been placed in the hands of one of the banks, so whilst the home may technically be classified as second-hand, many buyers are in fact getting a brand new home.

“We’re delighted by this positive turn of events, which has seen us successfully complete numerous sales this year for our clients,” says Michael Liggan of Altavista Property.  “If you’re a home owner who would like to sell, please contact us: we’ll be happy to talk with you about how we can market your residence with maximum efficiency, and support you through the selling process.”

We will be looking forward to the next INE statistical report because we believe it will show even better figures: there’s certainly nothing dull about a bright property market future.

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