Homes sales in Spain are showing strong growth, up by 13.9% in the second quarter of this year following a rise of 4.4% in the first quarter, according to the latest data from the Ministry of Public Works.
It is the six quarter in a row when sales have increased year on year, suggesting that the recovery in the Spanish real estate market is being sustained. It is also the second best quarter since 2010.
Active commercial real estate investors see Spain as the top investment target in Europe for next year as values are still below peak, new research suggests.
This is a sign of the Spanish commercial market’s recovery, with Germany following close and Germany is next on the list, according to a poll of investors carried out by international real estate firm Knight Frank.
The European commercial property investment market has continued to gain positive momentum, with transaction volumes reaching €104.9 billion in the first half of 2015.
This was a 29% increase on the same period of 2014 and investment volumes for 2015 are forecast to reach €230 billion, which would make it comfortably the best year since the market peak of 2007.
A decade-long economic boom in Spain, largely supported by vigorous growth in real estate, crashed in 2008 after a global financial crisis exposed a massive property bubble and deep imbalances in the country's banking system.
Commercial property investment activity in Europe reached its highest level since 2007, totalling €102.5 billion in the first half of 2015, the latest market analysis report shows.
The investment volume across the 16 participating countries was 25% up on the same period last year, according to the European Investment Briefing report from international real estate advisor Savills.
A group of international investors has won a bankruptcy auction for an abandoned airport in central Spain with a €10,000 (£7,000) offer - 100,000 times less than it cost to build.
The investors were the only bidders for Ciudad Real airport, south of Madrid, completed during Spain's boom years.
But it is not clear if the sale will go ahead as another buyer could still step forward outside of the auction process.
The pound rose to its highest rate against the euro since November 2007 on Thursday, climbing to €1.4350 at one point.
The euro fell against both the pound and the dollar as markets assessed potential interest rate moves over the next few months.
The European Central Bank is expected to maintain its loose monetary policy for some time to come.
However, markets are now waiting for rate rises in the UK and US.
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