Euroresiuk

Crash in house sales in Spain

Sharp fall in house sales in Spain 

Figures for the first three months of 2011 show that house sales dropped by 30.4% following an increase in house sales at the end of 2010 due to the end of certain tax rebates on buying a property.

However according to figures published today by the government house sales fell even more by 40.8% during the second quarter of this year compared to the same period last year with just 90,746 transactions.

Nevertheless during the second quarter of this year the fall in house sales was even more noticeable compared to last year given that during the same period in 2010 there was an increase in house sales boosted by a rise in VAT from 7% to 8% which came into effect on 1st July 2010.