Property sales in Spain fall again, according to latest figures as more fall through at the last min

[Nicholas Wallwork]

Residential property sales in Spain are still declining at an alarming rate with re-sales suffering the most, according to the latest figures from the National Institute of Statistics.

The data shows that property sales fell 33% in May compared with the same month last year. Although it is a slight improvement on April when the year on year fall was 48%, it is not inspiring much hope in the beleaguered property market.

The figures also show that April and May were the weakest months this year for sales.

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[rowlandsbb]

Thois news was not unexpected
As far as the general Spanish market is concerned it depends uponn how the economy performs and when it comes out of recession

The expats market depends on the home economies of the potential EU buyers who are looking for a life style buy in the sun
For UK buyers the exchange rate is very important and there are signs that this may improve as the year goes on

Are we at or near the botton in Spain?......who knows but certainly if the exchange rate moves close to 1.20 or higher then the current discounted asking prices for all ranges of property in Spain will start to look much more attractive

For any life style buyers it is probably worth a trip to Spain to scout for your ideal home this September/ November and if you find it bargain hard for a good deal