According to the Register of Property (Registro de Propiedad) Spain, the number of reported attacks on the transfer of ownership of residential buildings in the first quarter increased by 7% compared to the same period of 2009. This is the first increase in this indicator year on year over the past few years, writes Prian. Compared with the previous quarter, the number of reported transactions rose by 16,3% (without adjustment for seasonal factors). Total in the first quarter was recorded 117,911 transactions (60,740 of them - in a segment of the primary housing, 57 171 - secondary). This is the largest number of transactions over the past year and a half, said an independent consultancy Spanish Property Insight.
The number of transactions in the segment of primary residence increased by 16% compared with the previous quarter, but fell by 4% in annual terms. In the secondary market segment in the quarter and year on year saw an increase in the number of sales - on 17 and 22%, respectively.
Despite the positive statistics for the first quarter, experts suggest to treat it with caution, because these data have not yet indicate the beginning of the restoration of residential real estate market in Spain. The fact that the country should increase the VAT rate levied when purchasing real estate and will be lifted temporary mortgage tax relief. These factors could "whip" buyers, and further sales may once again go to the recession, analysts warn.
However, one trend of the first quarter seemed to specialists really encouraging. In coastal regions, which have suffered during the crisis in Spanish real estate market most strongly, the decline in housing sales started to decline. Perhaps it is associated with a significant decline in prices in these regions, which stimulates demand, including - by foreigners.
Recall that, according to one of the largest Spanish real estate portals Idealista.com, in May asking price on the secondary market in the country decreased by 0,1% relative to April.
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