Sales increasing across Spain

For the first time in four years, property sales in Spain increased during 2010, according to the latest data released by Spain's property register.

According to the figures, there were 445,885 homes sold in the country last year, up by 5.38 per cent compared to the previous year.

The news could be an indication that the market is back on track, with demand for homes in the country improving.

However, despite the improving level of transactions in the country, it has been reported that there are well over a million unsold properties in Spain at the moment, a figure which equates to approximately 20 per cent of Spain's total housing stock.

Meanwhile, new figures released by the Public Works Ministry show that the recovery is being led by the Balearic Islands, with home sales in the region up 14.5 per cent in 2010 compared to the previous year.

Ignacio Osle, sales and marketing director of Taylor Wimpey de Espana, confirmed: "Over the past 12 months we have seen buyer interest in the Balearic Islands, especially Majorca, rise steadily."

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