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Spanish property Sales Plummet 17%

Source: EFE - Tue 14th Dec 2010

Sales of Spanish properties fell by 17.7 percent year-on-year, to 27,198 units for October, reaching the lowest level since January 2007, when the National Statistics Institute (INE) first began reporting figures on the sale of properties.

The statistics for October indicate that the downward trend in sales that began in September, which ended eight months of rising sales, has not changed, the INE said.

Of the 27,198 housing units sold in October, 13,400, or 49.4%, were new-build properties with 13,798, or 50.7%, being resale properties.

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