Spain house prices up 5.4 percent in May

Nathan Andrada – Fourth Estate Cooperative Contributor

Madrid, Spain (4E) – Home sales in Spain climbed in May on year, according to data from the statistical office INE released Wednesday.

Wednesday’s report showed that the number of urban dwellings sold strengthened by 5.4 percent to 28,124 in May from the year-earlier month. The figure is 12.6 percent higher from the earlier month.

New home sales fell 8.0 percent in May on an annual basis, but edged higher by 2.0 percent on month. Sale of previously owned houses increased 16.0 percent on May year-on-year and climbed 20.6 percent from the earlier month.

The number of overall property transfers fell 4.5 percent yearly to 137,167 units. On the monthly basis, the figure jumped 11.9 percent.

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