Malaga sees sales decrease in 35 percent in the second quarter of 2011

The number of homes sold in Malaga in the second quarter of 2011 reached a total of 3,464 transactions, representing a fall of 35% compared to the second quarter of 2010 according to data published by the Ministry of Public Works. The fourth largest fall by province in Andalusia

The data indicates that 17,977 transactions were conducted Andalusia, representing a fall of 34.3 percent from the second quarter of 2010, according to the statistics of real estate transactions compiled by the Ministry of Development, who pointed out that this decline is less pronounced than the national trend, where the number of homes sold during the second quarter stood at 90,746 homes, representing a 40.8 percent less than the same period in 2010.

Compared to the first quarter of 2011, home sales in Andalusia increased by 18.6 percent, while Malaga saw an improvement of 21.8 percent. It should be noted that the 1st quarter of 2011 saw similar decreases compared to 2010.

As for new housing in the second quarter, sales fell by 52.4 per cent to 5882 dwellings, whereas in the case of second-hand housing, there were 12,095 operations, 19.3 percent less than in the second quarter of 2010.

By provinces, Malaga recorded 4602 transactions, 35 percent less than in the second quarter of 2010, Seville reached the 3464 transactions, 34.2 percent less, Granada there were 2256 transactions, a 30.1 percent less than in the second quarter of 2010, in Cadiz 2164 transactions were recorded, 40.1 percent less, in Almería there were 1842 transactions, 38.6 percent less compared to the same quarter last year.

In the other provinces also saw declines, as in Huelva, a decrease of 20.8 per cent to 1446 transactions, were registered in 1192 Córdoba transactions, 38.8 percent less than in the second quarter of 2010; Jaén and 1011 operations were recorded, 27.6 percent less.

There are many theories regarding these decreases, including the impending elections, the property tax breaks that ended at the end of 2010, etc….

Andrew Bellés

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