SO MUCH FOR THE ROAD SHOW SRA. CORREDOR!!
Monday, December 5, 2011 @ 6:37 PM
Spanish house sales fall to record low since 2005
Wednesday, November 30, 2011
Home sales fell 31.9% in the third quarter of 2011 over the same period of 2010, accounting for 84,852 transactions, and representing the lowest figures recorded by the Association of Property Registrars since 2005.
The agency attributed the data to the difficult economic situation and high unemployment, which has not been alleviated by the reduction in prices and mortgage borrowing or by low interest rates.
El Mundo reported that, of the total number of homes sold between July and September, 41,734 were resales (28.7% less), a figure which marks a new low.
The remaining 43,118 homes sold were new (34.7% less), a figure that is above the record low reached in the last quarter, mainly due to the lowering of VAT for the purchase of housing (from 8 % to 4%) which came into force in August and will continue until the end of the year.