Spanish property sales soar 11pc

Spanish property sales soared 11 per cent in 2015, according to the latest figures from the National Statistics Institute. The double-digit leap was a marked step up from the 4 per cent growth recorded in 2014, as the country's housing market sets course for a strong 2016.

The INE data shows that 318,055 sales were placed on the property register last year in total - the first time that figure has topped 300,000, notes Spanish Property Insight. In December alone, sales rose 8 per cent year-on-year, making 2015 the first year when every month enjoyed growth since the crisis began.

Barcelona led the way with sales up 20 per cent, followed by the Balearics, the Cadiz province and Las Palmas in the Canaries, all enjoying growth of 15 per cent growth apiece. The only region not to see a positive improvement in transactions last year was Huelva, where the number of deals dipped 2 per cent.

Estate agents in the Balearics welcomed the statistics, heralding 2015 as the strongest year for the islands' market since the crisis. Indeed, 10,605 transactions took place last year in the region, the highest annual total since 2008.

A separate study by property website idealista revealed that while property prices across Spain declined by 2 per cent in 2015, prices of Balearic property rose by 3.3 per cent with some of the most popular tourist areas, such as Andratx, seeing prices rise by up to 8 per cent.

"These figures really reflect what we are seeing on the ground," comments Alejandra Vanoli, Managing Director of Mallorca Sotheby's International Realty.

"Last year was a record one for sales since the Sotheby's International Realty Balearic operations opened - helped by our new Scandinavian department and the opening of our rentals division. Resales have once again provided the driving force behind the strong Balearic market recovery - 80 per cent of sales are of resale property, proving that buyers love a well-looked-after, established home."

Optimism is certainly in the air for 2016, with new low-cost flight routes from London's Stanstead Airport lined up for the Balearics.

"In fact, ABTA has urged any Brits wishing to book a holiday in Spain this summer to do so as soon as possible as current hotel allocations are nearing capacity and there is no guarantee more space will be available," comments Vanoli.