Spanish property sales up in Q1

Sales of Spanish property have risen steadily in the first three months of the year, with the weak euro and bottoming market contributing to a boost in confidence among buyers.

According to data released by the College of Registrars, there has been a 7.04 per cent increase in activity during the first quarter of 2010 compared to 2009 and this represents an 18-month high for sales volumes in the Spanish real estate market.

Chris Mercer, director of estate agent Mercers, has experienced the change of fortune during the first three months of the year, with an increase in interest of 157 per cent over the period compared to last year.

"Based on the number of enquiries we're receiving, [we] feel optimistic for the rest of the year," he explained.

"It seems that would-be Spanish property buyers are fed up of waiting in the wings and now want to make the most of a soft market."

In addition, the trend was reflected by recent data from housing portal Rightmove, which recorded positive results for the market during May.

Spain topped its enquiry list and showed that confidence is returning among British investors and buyers.

The news could lead to an increase in the number of individuals looking to Search for Properties in Valencia, with buy-to-let investors able to capitalise on the destination's popularity with tourists.

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