The National Institute of Statistics has reported that in Spain, property sales have jumped up for the second straight month. In September, they counted approximately 26,000 sale and purchase agreements. This shows a 1% increase in comparison with September of 2011.
This is good news since sales had been down for the past 17 straight months until August, and since the comparison of the two years is still showing a decline of 14.8%. Agents and owners just hope that 2013 will be a turning point in transactions after a few years of depression.
Professionals are not crediting this upswing to a positive change in the market, because they say that the increase is being caused from the tax breaks that are going to vanish in 2013 for buyers and the increase in the VAT on properties from 4% to 10%.
When comparing September of 2011 with September of 2012, we see that figures are rather similar. New properties in 2012 totaled 12,747, similar to that of September 2011. There was also only a 1.8% increase in the purchase of previously lived in homes, totaling 13,238 in 2012.
La Rioja and the Valencian community were the areas that saw the greatest increases in property sales.
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