Tuesday, 24 July 2012

Property deals fall sharply in May

Andalucía is second on the list of most sales
SPAIN (Agencies) The latest statistics show that year on year property sales have fallen by 11.6% in May. Of a total of 27,286 sales/purchases, 52% were for second-hand properties and the remaining 48% for the newly built, according to the National Institute of Statistics in a report issued last week. The annual decrease is slightly less than that experienced for April, when it fell by 9.9% and and reached historic minimals. The May figures show a downturn that has now lasted 15 consecutive months. Andalucía follows the Valencian Region, which reached a relatively low 103 sales per 100,000 inhabitants, with a mere 90. At the other end of the list are La Rioja, Cantabria and Navarra. The spread between country and urban property sales is as follows: 84.6% of transactions carried out in May were for urban properties (including apartments, townhouses, etc.) and 15.4% for country properties (rústicas); and within the urban property section, just over half, 53.7%, wer for homes, the remainder, commercial. Of the total number of sales in May, 60,003 properties, 5,519 were transferred by donation, 1,061 by full or part exchange, and 33,329, by inheritance.

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