January house sales show first y/y rise in three years
11.03.2010
Signs of recovery on Spain's real estate market have been confirmed by the latest data on house sales, which in January were at 38,262, an increase of 2.1 per cent compared with the same month in 2009. This is the first time y/y rise in three years.
According to the data released today by the National Statistics Institute, the increase was made possible thanks to a 10.7 per cent increase in second-hand housing transactions (18,807), compared with a 5.1 per cent drop in new home sales.
Overall, 50.8 per cent of real estate transactions were for new homes and 49.2 per cent for re-sales. House sales had been dropping progressively since January 2007, when they had reached the record level of 83,713 transactions.
In January 2010, there were only 4,262 sales transactions for public housing construction, down 0.9 per cent compared with the figure in January 2009.
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