Property transactions fall in the Canary Islands

The property market in the Canary Islands confirmed its downward trend in June 2011, a decrease of 22.1% in the number of transactions compared to the same month the previous year 2010, from 1,434 transactions in 2010 to 1,116 in the current year (2011). The data is similar on a National level where the fall was slightly higher (-22.9%), with a total of 28,612 transactions compared to 37,134 operations in 2010. In the islands, 576 of the transactions related to new properties and 540 were ‘used’.