Housing sales down by 28.6 per cent in 2008

Housing sales in 2008 reached 558,429 transactions in 2008, which gives a 28.6 per cent drop compared to figures from the previous year, according to the Instituto Nacional de Estadistica (INE).

The drop in housing sales experienced in Spain during 2008, was even worse when looking at second hand homes which experienced a 39.3 per cent drop to 273,936 transactions. New build sales dropped 14.1 per cent to 284,493 transactions.

The average number of sales in 2008 was 1,531 per 100,000 inhabitants. Murcia was the province which registered the most sales per 100,000 inhabitants with a total of 2,347 transactions followed by Castilla-La Mancha (2,183), La Rioja (2,145), Cantabria (2,003), Andalucía (1,900), the Comunidad Valenciana (1,892), Extremadura (1,717) and the Canary Islands (1,533).

Other regions to see above average sales were Castilla-La Mancha, La Rioja, Cantabria, Andalucía, Valencia, Extremadura and the Canaries.

Image by supermac under Creative Commons.