House sales fall by four percent along costas

30th April 2007, Comments 0 comments

30 April 2007, MADRID – House sales fell by nearly four percent last year along Spain’s Mediterranean coast, the ministry of housing said on Monday.

30 April 2007

MADRID – House sales fell by nearly four percent last year along Spain’s Mediterranean coast, the ministry of housing said on Monday.

From the Costa Brava to the Costa del Sol, the number of ‘second hand’ homes sold was 289,540 in 2006 – compared with 301,197 in 2005.

This represents a fall of 3.8 percent, said the ministry of housing in a report published on Monday.

The biggest falls in sales were in Cadiz(-10.8pc), Barcelona (-10.6pc), Tarragona (-9.5pc).

There were also substantial falls in Valencia (-7.8pc), Huelva (-6.4pc), Alicante (-6pc)and in Murcia (-3.4pc).

But there were also rises in other regions.

Sales went up in the Balearic Islands (11.3pc), Malaga (11.2pc), Almeria (9pc), Granada(4.1pc), Castellon, near Valencia (2.1pc) and Girona (0.8pc).

According to the estate agent Knight Frank, Spain is experiencing a slow down in the market, evidenced by the length of time it takes for properties to sell, from 18 months in 2004 to 30 months on average now.

[Copyright EFE with Expatica]

Subject: Spanish news 


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