Spanish property market is showing signs of growth

May 06, 2010

Individuals with a property investment in Spain may be interested in news that the real estate market in the popular European destination grew by 16 per cent during February compared to 12 months previously.

According to the latest figures from the National Institute of Statistics for the country, home sales in Spain are showing signs of recovery.

Among the most popular regions of the country were Catalonia and Madrid, which saw 43 per cent and 36 per cent increases respectively over the course of the year.

However, despite the growth in the market, there remains a lack of foreign buyers in the country, with the Bank of Spain revealing that the amount of money invested by foreigners is at its lowest levels for a decade.

Earlier this year, Savills claimed that "canny" investors were taking advantage of the economic troubles in Spain and purchasing property at bargain prices.

The real estate firm highlighted the low prices and large reductions which many developers were now offering on homes in the popular holiday destination.