The Spanish National Institute of Statistics has revealed that Spanish real estate sales figures started to show growth again for the first time in 2014, with an increase of 2.2%. This tentative recovery of the market, which has been in bad shape since the property crisis of 2009, is primarily due to the holiday regions.
Spain’s top performers are Majorca, Ibiza and Menorca. In the Balearics, 18% more properties were sold in 2014 compared with 2013. In the Canary Islands too, real estate sales were up around 12% in year-on-year comparison, with 17,348 properties sold.
Increased demand for holiday properties also led to a positive market result on the Spanish Mediterranean coast. Among the Spanish Mediterranean provinces, Catalonia showed the biggest growth with an increase of around 4%.
Spanish Porta Mondial partners make gains
Porta Mondial’s Spanish licence partners also registered increased demand for holiday real estate, particularly in Majorca, Ibiza and Tenerife.
In Majorca, Porta Mallorquina reported 2014 as its most successful business year in its 10-year history and Porta Ibiza is also constantly looking for new properties because of a significant rise in demand – especially from Germany – particularly for real estate in the mid to upper-price bracket. In Tenerife, well-located apartments and smaller to medium-sized villas remain in demand.