Spanish property sales up for the 3rd month in a row
By Sue Brown, 13 May 2010
Sales Increased by 9% in March, according to data from INE
Home sales up for the third consecutive month
Published 10/05/2010 by BusinessWeek
The surge in second-hand properties made home sales increase by 9% compared to the same period in 2009 and consolidates the rebound since the beginning of the year. However more moderate than in February, when these operations grew 18.7% - the highest increase recorded in the last two years.
The increased housing sales in March compared to the same month last year, a total of 37 561 operations, of which 48.9% were made on new homes and 51.1% on second-hand properties, as reflected today Statistics on Transfer of Property Rights published today by the National Statistics Institute (INE).
This better performance has been possible thanks to an increase of 25.1% in sales (19 212 operations), since the new building transactions decreased 4% (with 18 349 operations). Purchases and sales of homes surged in March for the third consecutive month.
Last year ended with a decline in the sale of homes of 24.9% over 2008, a total of 414 811 operations. From February, the sale of homes fell by 8.5% versus 7.1% rise the previous month, and in the first three months of the year accumulates a rise of 9.7% over the same period 2009.
Of the 37 561 sales transactions in March, 89.5% were on free housing and 10.5% of social housing. The former increased by 9.2% compared to March 2009 and rose to 7.1% for the protected homes.
The sale of previously owned/second hand homes rose in March at 25.1% annual rate, up to 19 212 transactions, and new housing fell 4%, with 18 349 operations in the third month of the year.
In terms of geographical distribution, the regions of Cantabria (152) and Navarra (150) head the amount of sales operations. 57.3% of sale’s were recorded in four communities: Andalusia, Madrid, Valencia and Catalonia
By Business Week