The fact that the number of property purchases took a small dip in the first month of the year when compared to the same month 12 months previously is most likely nothing to worry about.
According to data from the National Statistics Institute (INE), the number of homes bought in January fell by 2.9% annually, registering a total of 32,417 operations.
Up until this point, property purchases had registered 16 consecutive months of increases and positive figures, which is predominantly attributed to the popularity of second-hand properties, whose prices are generally much lower.
And 2015 ended with an 11.1% rise in the number of people who had bought property in Spain, reaching a total of 354,132 transactions, and two years of rising figures.
Nevertheless, it is obvious that the property sector is not in trouble, as when compared to the previous month, December, house purchases recorded a growth of a massive 17.3%. This means that although not as many operations took place as a year ago, on a month-to-month basis figures are going up.
The reason for the small decline in annual figures has been put down to the sluggish movement of the purchase of new builds.
In concrete, the purchase of new-build properties decreased by 28.9% in January 2016 from the year before. In actual numbers, only 6,334 new properties were sold, which is in stark comparison to the 6.6% rise in the number of re-sale property purchases, which reached a total of 26,038 transactions in January.
Source: www.abc.es
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