House sales back to 2007 levels in surprise surge

1.089 homes were sold in Almería in May, the highest number since 2007, bringing the province back to pre-recession levels.

That’s 65% more than were sold in May 2014, and 17% of all homes sold in Andalucia that month were sold here.

Most of the homes were resales rather than new properties, but the sudden surge has left estate agents surprised. Some agents think that a backlog of properties waiting to be registered in the registro, which was cleared that month, may be the cause of the surge.

However, constantly low prices, a feeling that “it can’t get any lower” and a strong pound is bringing an influx of guiris back into the province.

However, Almeria is the province with the highest number of unsold new homes on the market – there are 2.250 brand new homes per 100,000 residents, plus a whopping 15.850 new homes owned by the banks that they haven’t released onto the official resale market yet. I calculate that that means there are some 34000 brand new unsold properties in the province, plus all of the resales. So no need to start building extra homes just yet.

2 Replies to “House sales back to 2007 levels in surprise surge”

  1. We sold ours, problem was we took a 20% loss. People are now more inclined to ask reasonable prices for properties which are overvalued.
    Wait until the peseta returns, it will be a bloodbath for the Brits.

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