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Housing Sales Climbing For Fifth Consecutive Month, Up 10.7% YOY in July

11/09/2014 – Cinco Dias

Property purchase went up by 10.7% in July, if compared with the same month 2013. Transactions during that month totaled at 28.583, driven by an impulse from the resale market, according to the latest update of the National Statistics Institute of Spain (or INE).

The year-on-year rebound in July links five consecutive months of positive development. Specifically, sales first shot up in March (+22%), then also in April (+5%), May (+5.4) and June (+8.8%).

Data compiled by INE corresponds to public deeds on purchases realized before the reference month. By analyzing the figures month-on-month, the home sales show a 9.6% appreciation after a 7.3% reduction in June.

The year-on-year increase in real estate acquisition statistics is a result of a 24.7% upsurge in used properties (18.082 deals). On the contrary, new housing declined by 7.2% year-on-year (10.501 operations).

 

Original article: Cinco Días

Translation: AURA REE