Photo credit: Kevin Poh
Is Spain’s housing recovery finally here? In short, no.
The statistics from the General Council of Notaries show that sales of property in Spain soared 59.2 per cent in January 2014 annually. Combined with an 8.9 per cent climb in values, the figures appear to suggest that the market has improved in leaps and bounds.
The truth, though, stems from one year ago. At the end of 2012, a period of tax deduction came to a close. The measure, designed to spur on sales during the country’s major slump, did just that. After the discounts ended, though, sales that had been fast-tracked to take advantage of the offer left January with fewer transactions. Year-on-year, then, January 2014’s sales figures are improving upon a very low base.
Figures from the INE, meanwhile paint a dramatically different picture, with sales plunging 23 per cent in January year-on-year – a discrepancy resulting from the INE’s figures, which tally up title deeds registered at the start of 2014, made up of sales from previous months.
The Notaries, though, suggest that there is “a stabilisation in the monthly sales figures”, hinting at positive momentum starting to build. Indeed, data from …read more
Source: The Movechannel