Spanish property sales March 2013


Data out from the statistical office in Spain yesterday showed another decline in House sales suggesting Januarys upward blip from Land registry was indeed the outcome of the tax breaks being offered until the end of 2012.

Sales of dwellings decreased by 12.6% from March 2012 to March 2013 although total transfers was in fact up. Transfer of rights also includes donations and Inherited both of which increased year on year. Actual sales however decreased.
Sales of residential properties dropped by 29.36% from February and overall sales was the worst like for like month in 5 years.

The amount of new dwellings sold dropped by 11.8% and the number of used dwellings dropped by 13.2%.

Rustica sales as a percentage of total sales has increased in the last few years and this share now seems to be a trend. Lower more realistic pricing of country property and the exodus of the Spanish from the Cities back to the country will have an impact on this.

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