10 Nov 2010

The end of tax credit deduction triggers increases in house purchases.

Published in Legal & Tax, News
Housing sale transactions strongly increased year over year in August for the eighth consecutive month and even stronger so than in July, June and May. According to Tinsa the 5% drop in house prices has helped the recovery. Purchases and sales of properties increased by 29.6% in August compared to the same month last year with a total of 43,817 operations. The National Statistics Institute (INE) reported that 53.2% of sales were for new properties and 46.8% for second hand properties. Therefore, these transactions increased in August for the eighth consecutive month and stronger so than in July, June and May with an increase of 16.4%, 7% and 11.9% respectively. After 2 years of registered drops, the first increase came in January with an increase of 2.1%. Over the months (August to July), the sale of homes remained stable, while in the first eight months of the year an increase of 13.8% accumulated over the same period compared to 2009. Source: http://www.intereconomia.com/noticias-negocios/finanzas-personales/macro/fin-deduccion-vivienda-dispara-compraventa-casas

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