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Feb sees increase in Spanish property sales

Tue 13th Apr 2010

Records released for the month of February, detailing the month's total of house sales, jumped by a total of 18.7%. This was made up from a 23.7% increase in the sale of resale property and a 14.4% increase in the sale of new properties compared to February 2009.

The report was issued by the National Statistics Institute (INE), and outlines the largest increase in sales since the data was first assembled in 2008.

The month of February saw 51,343 properties changing hands.

It is suspected that the impending VAT/IVA increases as of the 1st of July are encouraging people to buy again after 2009 saw a 25% drop in sales when compared to 2008.

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