Spanish property sales jump in August

The latest figures concerning the Spanish property market suggest that the sector in the country is booming.

According to the National Statistics Institute, there was a massive jump in property sales of 29.6 per cent during August 2010 compared to the same period in 2009.

Buyers may have been taking advantage of the large amount of distressed property which is available on the market.

Victor Sague, sales and marketing director of Taylor Wimpey Espana, suggested that the new figures represented a return of confidence in the market.

"Confidence in the halls of government and the Bank of Spain is being echoed by many British buyers who are aware that the market for prime property has bottomed out," he said.

"Although there is still a degree of caution in a purchase of such a scale, those who have sat on the fence for the last couple of years are now keen to push ahead with their home buys in order to make the most of the reduced prices."

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