Mountain View, CA -- (SBWIRE) -- 11/29/2013 -- Mainstream media sources in Spain have all shared the property data released on Monday by the "Banco de España", showing that house sales in recent months continue recording annual falls, while the price per square meter remains on a slippery slope. According to the newspaper "El Mundo" the property sector is still falling, though there are signs of growth on some coastal regions of Spain like the Costablanca.

Data released shows that the buying and selling of property in tourist regional areas for September showed an increase of 8.4 percent yearly, but the average cost per square metre of homes sold in September was only 1,162 euros, an annual reduction of 14.7 percent, and meaning that property sale prices are still dropping to record lows. Resale apartments sold for the average sale price of 1,255 euros per square meter, representing a decline of 15.7 percent year over year, and the cost of new homes actually fell 29.3% annually to 1,394 euros, as the race is on to sell the huge stockpile of new unsold property. Also according to the "Banco de España" the number of mortgages granted in September was 15,552, and is the second lowest ever data recorded since the previous month of August, so lending is still at all time lows, with data over the year revealing that the number of new loans has reduced by 17.4 percent (6,321 mortgages) and that the average value of property purchased with a mortage was down to 102 772 euros (-9.2 percent annually).

Due to the property glut in Spain, the construction sector has been seriously hit, and mortgages for construction in September fell by 24.1 percent in one year and the average equity was also down to 199,256 euros (-42.4% annually). According to a UK local property owner Andrew Edgington, who lives on the Costablanca and owner of the property blog El Campello Apartments, there are indeed signs of a recuperation in the property sales sector along the coast, with new estate agents popping up as new interest is shown by Russian property investors, and that many northern Europeans that had left Spain a few years ago, are actually beginning to come back to a warmer climate with the hope of finding a bargain property.

Andrew went on to say "I can hardly blame people wanting to come back to an area that provides virtually 330 sunny days a year, and to top that property prices really are of great interest right now, even though they could still fall slightly more over the next year. It's definitely a cash buyers market too, as banks are only offering their own properties for mortgages, and that is what has really been putting the pressure on Esate Agents over the last 5 or 6 years". So it really would seem there is light to be seen at the end of what has been a very long tunnel for Spain, and if you would like to see the current apartments for sale in El Campello on the Costablanca, just "Click Here"

Company: El Campello Apartments Address: Avd Germanies, 4, El Campello, 03560, Alicante, Spain. Contact email: campelloapartments@gmail.com W.S: http://www.campelloapartments.blogspot.com