The sale of homes increased by 17.3% in February

Property SalesThe housing sales rose 17.3% in February from the same month in 2012, to a total of 35,486 transactions, thus stringing three consecutive months of annual gains, according to the National Statistics Institute (INE). The end of the tax benefits for the purchase of property from January 1 this year could be behind this increase in transactions, because of the delay in logging entries in the property registry (sales which closed a few months ago).

The transaction of previously owned homes rose 16.5% in February year on year, adding up to 16,723 operations, while that of new homes rose 18%, to 18,763 transactions. 86.1% of property transmissions were private homes, which meant an increase of 18% to 30,555 operations. The state housing operations were 4931, with a rise of 13.4% compared to February 2012.

2012 Property Sales Positive

The association of developers and builders of Spain (APCE) estimates that the number of homes sold in Spain at the end of 2012 will stand at 325.000, which will be 7% lower than those recorded a year ago. The ‘APCE’ President, José Manuel Galindo, believes that this ‘’positive trend” in property sales is due to tax relief and changes in VAT on housing.