Although the picture across Europe has been a generally depressing one when it comes to property sales news over the past year, even in the countries which are being hardest hit by the ongoing Euro crisis there are some glimmers of hope.
Whilst the financial situation in their country continues to cause furrowed brows amongst Spanish nationals, overseas investors are continuing to show faith in the property market.
The latest property figures released by the Ministry of Development record more than 225,000 total sales from January 2012 to September, which actually represents a decrease of 6.8% over the same period the previous year. However, purchases involving foreigners were seen to grow for the fifth consecutive quarter.
The busiest region was the district of Alicante on the Costa Blanca, which saw significantly more business going on that its nearest rivals Malaga in second place and Barcelona in third.
Across the country it was a mixed picture, with some regions seeing increases in house sales and others witnessing a decline.
There were yearly rises in the third quarter with the biggest increases being seen in La Rioja, followed by Catalonia, the Valencian Community, Asturias, Castilla-La Mancha, Cantabria, Ontario, Murcia and lastly Aragon.
In all the other regions the newly released figures show a decline, and in some cases it is a significant one. Navarra's performance was particularly poor with a 51.7% decrease, with the Basque Nation on 33.8%, Extremadura on 22.2% and finally Castilla y Leon with 12.6 %.
As always, the lack of sales can have many mitigating factors and might mean that the worst performing are in fact the best bets for an investor who is willing to take a risk on the longer term.
If you are considering buying a property in Spain use a reputable foreign exchange specialist to ensure that you benefit from the best rates available.
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