Spanish property sales head towards record eur 5b

Would-be investors in Spanish real estate are keen to benchmark overall investments at the mid-point of the first quarter of 2012 as that could confirm record highs for four consecutive quarters.

The magic figure they are looking for is around EUR 500M which would mean around EUR 5 billion of inward investment for Spain’s real estate sector over the last 12 months. This would be a clear signal to buy for most investors and build on the current sales of EUR 11M a day.

Last quarter figures from the Bank of Spain showed investment surging by nearly 28% over the same period in 2010 – exceeding EUR 1B for a run of three quarters, for the first time since the country’s property boom ended in 2008.

The increase in Spanish property sales seen in the last quarter of 2011 has spilled over into 2012 as international buyers secure the best Costa deals with Germany and Nordic countries outspending the Brits, who have been slow to spot the new opportunities.

Source: PropertyInSpain.net