The INE has released house sale statistics for the month of July in Spain. The notable features are the 16+% year on year increases for both new and second hand dwellings. These numbers come from the registry offices and hence probably more reflect purchases actually made in the month of June than anything else.
In light of this it would be easy to assume that some of the purchases are a result of avoidance of the one percent hike in sales tax that went into effect on July 1. That's reasonable, except that the new tribute doesn't apply to second hand sales - which are actually at 24-month highs.----------------------------
Ibex Salad regularly updated features...
5 Comments:
Given the lead times, it'd be nice to know which of the new houses being registered are the result of off-plan commitments made before the peak.
Plus how many are being sold off by banks.
Probably approaching zero, Colin. Buying off-plan probably peaked in 2004 and wasn't working at all well for builders by 2006.
What about when a property gets taken over by a bank. Will that show up in these figures?
No... at a couple of thousand euros in notary and registry fees per property. A mere blanket assignment of rights accomplishes the same thing.
These are real sales.
That's a new way. Our experience is if we buy from a bank, it is on the nota simple and on the escritura!
Dick
Post a Comment