Outlook for Spanish property market 'positive'

Signs of improvement have been seen within the Spanish property market, with an increase in transactions witnessed over the course of 2010.

Figures released by the Spanish Ministry of Housing show that there was a 5.9 per cent increase in the number of sales in the country compared to a year previously.

In addition, data released by the Bank of Spain shows that foreign investors spent 2.9 per cent more on property in 2010 than they did in 2009, an article on the Select Property blog noted.

"It highlights a vast improvement in foreign investor attitudes towards the country," the report said.

"More importantly, when broken down over the year, Q4 showed the highest year-on-year improvements suggesting a progressive change moving into 2011."

However, despite the positive reports concerning the property market, the Spanish Labor Ministry recently revealed that unemployment in the country grew for the third consecutive month in March, with the total number of jobless in the country remaining at over 20 per cent.

According to the organisation, there was a 0.8 per cent increase in the number of people registered as unemployed over the course of the month, Bloomberg News reported.

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