Spanish property sales decline in June
By Peter Mindenhall

Spanish property sales decline in June

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There was an 11.4 per cent reduction in the number of property sales in Spain completed in June, compared to the same month a year earlier.

New figures published by the country's Instituto Nacional de Estadistica revealed the majority (84.9 per cent) of the real estate transactions in Spain related to urban dwellings.

Meanwhile, the Autonomous Communities of Castilla y Leon and La Rioja recorded the highest number of property sales per 100,000 inhabitants during June.
However, with 7,753 sales in total, Comunitat Valenciana posted the greatest number of deals overall.

In addition, research published by the Royal Institution of Chartered Surveyors earlier this month suggested the picture for Spain's commercial property sector is unlikely to improve in the near term.

The organisation pointed out rental and capital value expectations remain in negative territory, while investment demand is predicted to be subdued, although in this respect Spain is outperforming other south European nations like Italy and Greece.
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