Spanish property sales fall eases

The fall in the number of properties being sold in Spain has eased, new figures have revealed.

Data from the National Statistics Institute showed a 24.3 per cent year-on-year dip in the total of homes sold in March at 34,895, but this represented the lowest drop in 11 months, Reuters reports.

The statistic may provide a hint that the market is starting to bottom out, although the news provider noted that economists expect prices to carry on falling.

Those keen on buying a Spanish property may find now is a good time to make a purchase, with the possibility that the country could start to emerge from recession in the months ahead.

Speaking this week, president of the European Central Bank Jean-Claude Trichet said there are "encouraging" signs pointing to the start of a recovery in the global economy.

Such a situation could benefit Spain and help bolster its property market.

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