New housing leads way in increased home purchases in Spain
June 01, 2012
Following on the heels of recent news from Spain of the collapse of Spain’s largest mortgage lender, Bankia, a report from Spain's Association of Registrars presents the results of real estate registration statistics for the first quarter of 2012, during which there were 92,211 purchases.
The new housing sector led the way with 48,691 purchases, 11,085 more than the previous quarter. The secondary market also increased, with 43,520 purchases, 5,477 more than in the fourth quarter of 2011.
These results should be interpreted with caution according to news source, Inmodiario
(an online real estate news publication) because they are influenced by several factors, including a reduction of prices in recent quarters. In the last twelve months recorded home purchases were 337,873, representing the lowest annual result of the series (since 2005). Spain's leading real estate association, AEGI
, is a sponsor of Inmodiario
and re-posted the report on its news page
In the last twelve months, new home purchases have reached 170,706 and 167,167 for used homes. These results represent a decrease of just over 25% for both new and used housing for the year.