Home sales up 7pc in Q1

July 20th, 2010

A new report from Spain’s Property Registrars suggests that transactions – the lifeblood of the property market – are bottoming out, though it is still too early to declare a recovery under way.

The number of property deeds of sale inscribed in the property registry rose by 7% in Q1 compared to same period last year, according to the latest report from Spain’s College of Property Registrars. This is the first time in several years that annualised sales have risen in a quarter.

On a quarterly basis (Q4 2009 vs. Q1 2010), registered sales were up by healthy 16.3% (not adjusting for seasonal factors such as holidays), giving “the highest volume of transactions in the last year and a half,” says the report. After adjusting for seasonal factors, sales were up 1.83% in Q1, the first positive quarterly result after 15 consecutive quarterly declines.

Of the total 117,911 deeds inscribed in the register in Q1, 60,740 were new builds and 57,171 resales, a quarterly increase of 16% in new build sales, and 17% in resales. This points towards a “slow but steady recovery of the relative importance of resales, now 48.5% of the total,” says the report. On an annualised basis, resales were up 22% whilst new builds were down 4%.

Story by Mark Stucklin

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  4. Spanish Property Market Growing Again
  5. Upward Trend Continuing for Spanish House Sales

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