Spanish property market still flailing

Another clutch of downbeat news stories from the Spanish housing market:

The value of house sales fell 37.5pc in 2011, according to new figures from the Government (Fomento). There were 307,931 home sales last year (excluding social housing), valued at 50.5 billion Euros, 37.5pc down on the year before.

More or less the same story, but from a different source, comes the news that there were 370,204 home sales last year (including social housing), according to the property register (registradores.org). That Spanish housing market is now the smallest it has been since the Property Register started publishing this data series back in 2005. Transactions fell 11pc in the last quarter of the year.

Source: Spanish Property Insight