Spain's housing sales increase by 18.1 pct in November

MADRID, Jan. 11 (Xinhua) -- Spanish housing sales rose by 18.1 percent in November 2017 compared with the same month of a year earlier, Spain's Statistical Office (INE) reported on Thursday.

A total of 40,579 operations were registered in the 11 month of the year, with sales of second-hand houses rising by 15.8 percent in November year-on-year to 33,100 and sales of new houses increasing by 29.8 percent to a total of 7,479.

Sales of second-hand houses represented 81.6 percent of the total while sales of new houses represented 18.4 percent of the total.

The INE reported that purchases of non-subsidized houses accounted for 91.1 percent of the total. Their purchases rose by 18.9 percent in November year-on-year.

Purchases of subsidized houses represented 8.9 percent of the total with their sales rising by 11 percent in November when compared with November, 2016.

Spain's housing sales have been rising for seven consecutive months on a year-on-year basis. The country's real estate sector suffered the consequences of the financial crisis with a housing bubble bursting in 2008 that led to a drop in prices and sales. Enditem