Property market in Canaries continues to show signs of recovery
House sales in the Canaries continue to show signs of a noticeable upturn in fortunes as the year draws to an end.
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The latest government figures, corresponding to sales during October, show that the number of sales was a full 50% up on the same month in 2013, putting the Canaries at the top of the national table. The increase across Spain as a whole was 16% and follows the 13% rise recorded in September. Although Andalusia was the region with the highest number of sales, with 5200 properties changing hands, the Canaries performed best in relative terms when population is taken into account. Despite the positive showing, experts stress that nearly 70% of the transactions involved second-hand properties and that it will take considerable time to clear the current stock of unsold new homes.
And did it mention what prices are doing, Fifi? Up, down or stable?
Quote from: waggy on December 15, 2014, 19:49:10 PM
And did it mention what prices are doing, Fifi? Up, down or stable?
Hi Waggy no it didnt but I did read that properties in the Canaries are selling for more than Tourst areas in mainland Spain.
I had my reservations when they started to sell all of the Bank Repossessions on Tamaragua, its turned out to be the best thing that could have happened. The estate is looking really good now, well maintained, clean, with a nice feel about it. Its a shame there is a limited take up on the commercial properties, but who knows.
Now that the Bank properties have been sold, the normal purchased properties are starting to sell at reasonable prices, you will still take a hit, but not as bad as say, two years ago.
In case anyone's interested (Q = year's quarter)
http://www.kyero.com/house_prices/55568-fuerteventura-house-prices