The sale of properties in Spain registered an increase of 10.7% in the first half of 2010 compared with the same period last year, according to data released Tuesday by the National Statistics Institute (INE).

37,297 transactions were registered in June, while July saw 1% more property sales than the same month of 2009. Nevertheless, the June increase is more moderate than in preceding months.

51.9% of Spanish property sold in June were second hand (19,339) and 48.1% new (17,958). In this case, the number of transactions of new build properties fell 2.1%, while second hand property sales increased by 17.1% over June 2009.

Statistical Gamble

Despite the “positive” first impression such figures might give, the underlying facts reveal a different scenario. Property sales in June 2007 stood at a strong 66,670 dropping to 46,533 in June 2008. When comparing June 2007 (66,670) with June 2010 (37,297) a 56% drop in sales figures is revealed.