Property investment in Spain is on the up as research reveals an 18-month high for volume of sales on the country’s property market.

June data from the College of Registrars showed a seven percent increase for Q1 of this year compared to the same period in 2009 and a 16 percent increase from the final quarter of last year.

Chris Mercer, director of Costa Cálida-based estate agents Mercers, has first hand experience of the change of fortune.

“We can reveal a quite spectacular increase of 157 percent for quarter one 2010 over quarter one 2009 and, based on the number of enquiries we’re receiving, feel optimistic for the rest of the year,” he said.

“It seems that would-be Spanish property buyers are fed up of waiting in the wings and now want to make the most of a soft market.”

Housing website Rightmove also saw some improved results for Spain in May. The country topped their enquiry list and showed confidence returning to British buyers.

However, according to the College of Registrars, property purchases by non-residents for Q1 2010 accounted for only four percent of transactions (5,000 homes) of which the Brits took the largest chunk at 31 percent (1,574 homes).

Mercer feels this is not going to clear the massive oversupply of holiday homes overnight, but at least sees an improvement on 2009.

He added: “All of our sales are currently price driven. Mercers’ audience is now mainly British, split evenly between retirement and holiday homes, but we are seeing a big increase in enquiries from Spaniards, in particular those from Madrid after a bargain holiday bolthole.

“And, with two-bedroom homes on Camposol Golf priced from €55,000, that’s £45,000, a bargain’s exactly what they get.”

Another example from Mercers of properties on offer in Costa Cálida include a three-bedroom, one-bathroom property with private driveway and plenty of room for a swimming pool, situated in a quiet location on Camposol Golf resort for €69,950.

• Overseas property exhibition A Place in the Sun Live returns to Birmingham NEC from October 1 to 3.

Following a successful event in London back in March, the event will be showcasing displays from more than 100 exhibitors.

The show will boast a series of informative country-specific feature areas, including:

• A French Village featuring properties available across the country and a dedicated seminar theatre with sessions on buying in France.

• A Portuguese Pavilion, with supporting seminars on buying in Portugal, including the full low-down on investment opportunities.

• A Spanish village showcasing bargain discounted properties available on the Costas, Balearics and Canaries.

A Place in the Sun Live will also features a seminar programme hosted by overseas property experts, including special appearances by the TV show’s celebrity hosts Amanda Lamb, Jonnie Irwin and Jasmine Harman.

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