(MADRID) Spain's house sales rose 17.6 per cent in April from a year earlier, the second largest jump since the series began in 2007, official data showed yesterday, a sign of recovery for the crippled property market.
The biggest annual jump of 18.7 per cent was recorded in February.
The number of homes sold in April rose to 34,326, a long way from the series' high in the first month the figure ran in January 2007, with 83,713. House sales fell 8.6 per cent in April from March, the National Statistics Institute reported.
The Spanish housing market, inflated in the last decade by cheap loans, has collapsed since the global debt crisis began, sending shock waves through the whole economy.
While, year on year, house sales are making a tentative recovery according to official figures, a Reuters poll shows house prices will continue to fall well into 2011. -- Reuters
Source: Business Times, 15 Jun 2010