REAL ESTATE MARKET

Homes sales break a 17-month downward trend

Purchases climb three percent in August from a year earlier as buyers anticipate tax rise

Home sales in Spain rose in August for the first time in 17 months, but purchases remained at levels of under half of those seen five years ago as a massive property bubble neared bursting point.

According to figures released Tuesday by the National Statistics Institute (INE), the number of transactions in August came in at 27,708, up three percent from the same month a year earlier. For the first eight months of the year, sales were down 16.3 percent.

The uptick in activity may reflect homebuyers entering the market in order to take advantage of tax breaks on mortgages on the family home that are due to be pulled at the start of next year.

The value-added tax rate on new home purchases was also raised from four percent to 10 percent at the start of September as part of the government’s austerity drive. New home sales were up 6.2 percent in August.

After falls of over 30 percent from their peaks at the end of 2007 and the start of 2008, house prices are a lot more accessible, although a major factor working against that incentive is unemployment of almost 25 percent.

There were wide differences between the country’s regions in terms of home sales in August, with Castilla-La Mancha, La Rioja and the Balearic Islands enjoying increases of close to 30 percent. That compared with falls of a similar magnitude in Navarre and the Basque Country.

Comentar Normas

Para poder comentar debes estar registrado en Eskup y haber iniciado sesión

Darse de alta ¿Por qué darse de alta?

Otras noticias

Últimas noticias

Ver todo el día

Podemos Euskadi pide a Urkullu que no “margine” a la tercera fuerza

Pedro Gorospe Vitoria

Su secretario general, Roberto Uriarte, critica que al no haberle llamado para concertar una cita, el lehendakari "no ha entendido el mensaje de la ciudadanía vasca"

La campaña demócrata se escora a la izquierda

Amanda Mars Washington

El veterano Bernie Sanders crece como rival de Clinton y endurece el discurso general contra la desigualdad

Hillary Clinton apela al voto de la generación del milenio

Cristina F. Pereda Washington

Los 'millennials' son la generación más diversa, más conectada y con más iniciativa

EL PAÍS RECOMIENDA

La caída de Roma

A pesar de su pasado glorioso, la capital de Italia nunca ha sido un dechado de virtudes. Hoy la ciudad lucha por revivir

Un siglo de experimentos militares con humanos

Miles de personas participaron sin saberlo en pruebas de armas químicas

Lo más visto en...

» Top 50


Webs de PRISA

cerrar ventana