The number of real estate transactions grew for the first time in 13 months in Spain last quarter, but with volume still off 60% from the market's peak, claiming recovery would be premature. An excess of supply, tight credit and hard economic times have hurt the holiday home sector, which has also been hit by the loss of British business due to the weakened Sterling. See the following article from Property Wire for more on this.
Spain’s real estate register shows that there were just 110,709 transactions in the third quarter of 2009, down 15% compared to same period last year, with coastal properties suffering the most.
