Vincente Carbonell, head of the Property Registry in the Valencian Community, has revealed that property transactions in the region are down by 30% to 35%.

Carbonell’s figures are based on the number of deeds of sale being inscribed in the property register, and so are a good indicator of activity in the property market.

“For us the worst is probably yet to come because new sales have fallen dramatically, which means less title deeds to inscribe in the register in the next few years,” Carbonell told the Spanish press.