Property sales in Spain rose 3.6% in 2012

Property sales in Spain rose 3.6% in 2012 over the previous year, to a total of 361,631 operations, according to the Ministry of Fomento.

Only in the fourth quarter, 132,609 homes were sold in Spain, representing an increase of 76.1% over the previous quarter and 23.5% over the fourth quarter of 2011.

The increase in VAT as of January 1st 2013, which in the case of property transactions rose from 4% to 10%, probably acted as a stimulus for the property market.