Confidence starting to return to the Spanish property market according to agents

Data released by the agent suggests that prices in some of Spain’s most desirable areas have fallen up to 50% since the property crash of 2006/2007. However, sales have begun to rise more recently as British and Scandinavian buyers return to the market.

Property sales in Barcelona are up 13.5% from January to May 2013 compared to the same period last year and Lucas Fox has seen the strongest two quarters of trading since the start of the property crash.

The luxury property market is doing particularly well, primarily in Barcelona, the Costa Brava, Ibiza and Mallorca.  In these key areas the property markets are still being driven by international clients.

Mallorca was the most popular tourist destination in Spain in the first half of 2013, with many British and Scandinavians returning to the market and on Ibiza, prices remain buoyant and the demographics of buyers is changing with more young European buyers in the 30 to 40 year age group.

 Source: www.propertywire.com