There is good news for developers in Spain as news is released regarding sales volumes across the country on OPP online. According to research released from The Spain Property Registry, the volume of Spanish property sold in 2010 increased by 13% year-on-year between July and September compared to 2009. A total of 124,593 properties were sold in 2010 during this three month period with the sale of newbuilds increasing by 9% and re-sales by 17%.
Market specialist Mark Stucklin of Spanish Property Insight comments that “on a rolling 12-month basis, there were 454,283 sales over 12 months to the end of Q3, up an annualised 4% and a quarterly 3%” and as such he believes that “the market has found its floor at around 400,000 transactions per year”.
In addition, a recent survey conducted by the Worldwide Property Group found that Spain remains the most popular destination for individuals looking to buy property abroad with more than a third of respondents to the study claiming that they felt now was a good time to purchase real estate in the country.
What’s more, A Place in the Sun this week forecast a healthy outlook for buyers with the news that they will be able to borrow up to 100 loan to value (LTV) of the property price, as Spanish banks step up their efforts to enhance property sales across the country. Terms associated with the 100 per cent LTV mortgages are expected to be up to 50 years, along with interest-payment holidays of up to two years.
What further encouragement do you need to consider purchasing in one of Spain’s leading golf and real estate developments PGA Catalunya. A luxury golf resort which exemplifies cutting edge architecture and unparalleled facilities, this is certainly a savvy Real Estate investment worth considering in 2011.