We've not been sticking our noses into the matter of home sales in Spain for a couple of months because we couldn't sort out the effect of tax changes on the trend. On the other hand, we can't ignore the graph generated by January's property registry figures.Made up mostly of sales consummated in November and December (prior to the elimination of the income tax deduction for a principal residence), second hand sales are at their highest since June of 2008, new sales since October and total sales since September of the same year.
We have no comment on whether reaching figures pre-Lehman Brothers means anything of any significance, but it is worth noting that the rescinded tax deduction probably amounted to about 400 euros of annual benefit for most homeowners.
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2 Comments:
Good pick up, almost forgot about that.
Well, you're pretty familiar with the surprises that can surface when you actually look at the raw material.
Thanks
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