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Spain's housing sales rise by 2.1 pct in March

Xinhua, May 8, 2015 Adjust font size:

Spanish housing sales increased by 2.1 percent in March when compared with the same month in 2014, according to data published on Friday by Spain's Statistical Office (INE).

The INE reported that a total of 27,280 operations were registered in the third month of the year, which meant that housing sales have been rising for seven consecutive months on a year-on-year basis, especially thanks to a rise in sales of second-hand houses.

Sales of second-hand houses rose by 32.8 percent in March when compared with a year earlier to a total of 20,683 purchases. On the other hand sales of new houses fell by 40.9 percent in comparison with a year earlier to a total of 6,597 purchases.

Sales of non-subsidized houses rose by 1.4 percent in March on a year-on-year basis to 24,473 purchases, which accounted for 89.7 percent of the total number of purchases. Meanwhile, subsidized houses rose by 8 percent to 2,807 purchases in March when compared with a year earlier.

Meanwhile on a month-on-month basis housing sales fell by 8.2 percent from February to March while rising by 9 percent in the first quarter of the year in comparison with the same period of a year earlier.

The consecutive rises in housing sales confirm forecasts made by experts that said 2015 could be the year for the country's real estate sector recovery. In the first quarter of the year the sector registered 2.463 billion euros (2.762 billion U.S. dollars) of investments, threefold in comparison with a year earlier. Endit