Residential property sales across Spain increased by 14% in the first quarter of 2019 compared to the same period in 2018, the latest official figures show.
As a proportion of total sales, they increased from 17.7% to 19.5%, according to the data from the National Institute of Statistics. However, this is still a long way from that of the first quarter of 2007, when new homes represented 41% of total sales.
The biggest growth in sales was in Madrid with a rise of 34%, followed by Valencia, up 24% and then Barcelona with a rise of 12%.
The motivation of buyers is changing from secondary residences to investment, as they take advantage of Spain’s steadily growing property prices and good rental returns. This, combined with Spain’s high quality of life, has assured that the trend of the ‘lifestyle investor’ will continue to grow.