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House Sales on the Up!
10-09-2010The market shows signs of bottoming out
The Spanish property market appears to have bottomed out, at least in terms of transactions, but there is no sign of a strong rebound in sales.
Excluding social housing, there were 33,581 residential property transactions in June, 5.5% up on the same month last year, according to the Government’s figures (INE).
In the first 6 months of the year, sales were up 9.4% compared to the same period last year. But compared to the first 6 months of 2007, sales were down 50%.
Month to month, sales fell 1% in June compared to May. So the market may have bottomed out, but there is no strong rebound underway.
By: Giles Brown
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