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Property sales up in Spain, but prices are still falling, latest data shows

  Home sales in Spain are increasing but price are continuing to fall with the latest data from the Notaires showing transactions up 16% compared to a year ago.But the same set of figures show that prices are down 5.7%, although the general opinion is that the Spanish property market is well on its way to recovery.Apartments saw the biggest jump in sales activity with an increase of 11.6%. The average price per square meter was €1,214, a 5.7% drop from a year and 35.7% below prices in 2007.
  The Notaires said that the jump in sales is a normalisation in the wake of changes in tax laws, but it also represents a stabilisation of monthly sales. For example, the number of sales from January to June was similar to the number of transactions in the same period of 2013, at 29,171 in 2014 compared to 27,958 in 2013.Meanwhile a village in Spain with the country’s oldest population is so desperate for people to come and live and build new homes that it is selling building plots at bargain prices.It is possible to buy land to build a home in the village of Olmeda de la Cuesta, 100 miles from Madrid, from €160 for 60 square meters, rising to €1,300 for 205 square meters and there are eight plots available.‘We want to attract more people so that the village does not disappear. Buyers can build a house of up to three floors and can put in a garden. Some plots have caves that can be used as wine cellars,’ said mayor, José Luis Regacho, who is one of the youngest residents at the age of 47.
  The village once had 500 residents but now there are only 15 permanent residents and 20 home owners that return for weekends and holidays. The average age is 75. It has a church, a medical clinic that is staffed once a week and a bar. The local school closed 40 years ago, due to a lack of students.It is the second time that the village has sold bargain plots. Last year six plots were sold for between €600 to €3,500 but this time the prices are much lower.However there is a downside. ‘This isn\\\\'t a place where people can move and expect to find a job. There are really no work opportunities here,’ said Regacho who commutes weekly to his job in a city 30 miles away.‘It would be perfect for people who want a quiet place to relax or to get away from daily life. Or a writer who wants a quiet place to work or an artisan who wants a place to make and store products,’ he added.


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