Spanish property sales drop, official figures show

The latest data published by the National Statistics Institute in Spain has revealed that property transactions in the country declined during July, on both a year-on-year and monthly basis.

Annually, sales of homes in Spain fell by 34.8 per cent, with an 8.6 per cent drop compared to June this year.

Meanwhile, the number of property transfers also decreased, reaching 128,097, which represents a 24.1 per cent decrease on July 2010 and is 9.8 per cent lower than that recorded the month before.

Just under half (47.8 per cent) of the sales to take place during July were for new housing, although the number of transactions for new dwellings has dropped by 39.8 per cent compared to the same time last year.

However, one building firm operating in Spain recently revealed that it has experienced an eight per cent increase in the number of international sales it has executed so far in 2011.

Taylor Wimpey de Espana stated that it also received 70 per cent more enquiries from potential buyers during the first six months of this year, compared to the first half of 2010.

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