The Spanish property market may have passed its worst downturn.

According to the Spanish National Institute of Statistics (INE), it shows a clear increase in property transactions throughout Spain compared to last year.
The sale of houses this February is up almost 20% compared to February 2009. Other indicators also seem to point towards a slow but clear and steady recovery of the collapsed property market, previously one of the engines of Spain's economic growth.
It is the first time since the beginning of the economic crisis that the housing market shows double digit growth numbers.
Most transactions are in second hand homes and around 40% in newly constructed properties. Analysts expect the property market recovery will include the whole of Spain.
The Canary Islands show an increase of 78 properties per 100,000 inhabitants changing hands in February.