The number of new residential mortgages granted in Spain in April fell 42% year on year to 50,288, according to latest figures from National Institute of Statistics (INE). As elsewhere, Spanish property market runs on mortgage lending, so this dramatic fall in new lending speaks volumes about the weak state of the market. These figures [...]
Spain had 614,000 new homes sitting unsold at the end of 2008 - lower than most analysts’ estimates - according to the first major survey of Europe’s most over-stocked home market.
Almost half of those are clustered on the over-developed coast according to the housing ministry study, which surveyed or visited 6,810 real estate companies [...]
A local business school recently estimated Spain’s glut of newly built homes at around 1 million, suggesting that this is the biggest problem facing the Spanish property market today. Now a new report from the Ministry of Housing confirms that Spain’s property glut is indeed monumental, even if it has not yet hit the 1 [...]
Standing empty, slowly depreciating, unloved, and unwanted. That seems to be the fate that awaits 4 out of every 5 newly-built properties finished this year, according to an article in the Spanish daily El Mundo, based on the latest housing market statistics.
The problem is that Spain is still building far too many homes. New construction [...]
