Home Sales Bounce Up 10.8%

June 18th, 2013

The sale of homes rose 10.8% in April, over the same month of 2012, to 23,578 transactions, seemingly despite the end of the tax credit for the purchase of a home, and the increase in VAT on the sale of new builds from 4% to 10%. The National Statistics Institute’s report, prepared from property registrar data, refers to sales closed some two months earlier (February).

Since March, when 12.6% fewer homes were sold, housing sales rose by 6.8%, which is 22.6 points higher than in April 2012 and the highest month-on-month rate recorded in the last five years. According to the same source, housing sales have accumulated an increase of 9.7% in the first quarter. Of all the homes sold in April, 43.4% were new and the remaining 56.6% were second hand. Year-on-year the sale of new property grew by 5.1% and second hand property by 15.6%.

The sale of private housing increased 12.7%, to 21,220 transactions, while that of social housing fell by 3.3% and totalled 2,358 transactions. During the fourth month of the year, the number of property transfers recorded in the property records from public deeds carried out previously was 142,206, which is 23.1% more than in the same month of 2012, and 14.4% more than in March.

Diario Sur reported that 82.5% of the property sales registered in April corresponded to urban properties (of which 49.9% are homes) and 17.5% to rustic properties. Urban property sales increased by 17.5% and rustic by 23%.

The Canary Islands and Murcia registered the largest percentage changes in housing sales, year-on-year, with increases of 64.6% and 48.3%, respectively. On the other side, registering the largest falls, were Asturias, the Basque Country and Navarre, with declines of 22.1%, 21.8%, and 18.2%, respectively.

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