Spanish property sales drop 18.3% in May

The sale of Spanish properties decreased by 18.3% in May compared to the same month last year, with monthly sales standing at 30 797 sales (including VPOs). Most of this drop was due to the sharp decline in new build sales in the Month of May which saw a decline of 22.7%.

This is the third consecutive month where sales of Spanish properties have decreased year on year with April suffering a drop of 29.7% and 11.9% in March.

These decreases followed a positive start to the year with February registering an increase of 10.5% and a 19.6% in January, which broke the decreases of the last four months of 2010.

On a positive note, sales in May have grown by 27.8% compared to April.

Of the 30 797 residential sales transactions recorded in May, 13.4% were social housing (VPOs).

Original article: Spanish property blog