Spain posts housing sales increase as 'investor confidence returns'

The Spanish property market has posted its first rise in house sales for three years, it has been announced.

Figures revealed by the Ministry of Housing show that sales in the country were up by 4.1 per cent year-on-year during the fourth quarter of 2009 and could represent a return in interest to the economically-troubled destination.

Speaking to Overseas Property Professional, many developers and agents reported that they had experienced a rise in the number of sales and enquiries they had dealt with surrounding the popular European destination.

Alfredo Milla, director of international investments at Mediterranean, told the property website that there was a feeling that the economic climate was improving.

"We believe that the confidence is returning to the international buyers as they can see the great offers that are now available in Spain.

"With a lot of European countries predicted to leave the recession this year there is not so much financial fear."

Meanwhile, the National Association of Estate Agents International has recommended that buyers invest early in the country to take advantage of bargain properties.

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