Estate Agents & Advertisers: Login or Register Telephone Number Tel: (+34) 952 471 774 | UK Freephone UK Freephone: 0800 047 0597 | US Toll Free US Toll Free: +1-866 656 7152
IPIN Left IPIN Middle IPIN Right
Header Corner
Find Property in :

E.g. "Marbella" or "Manchester". Looking for more search options?

 
Secure Exit Strategy


Excess Spanish property supply 'will take 10 years to resolve'

Date : (News Section: Spain)

Share
Excess Spanish property supply 'will take 10 years to resolve'
The abundance of excess property in Spain will take a decade to be completely absorbed by the market, according to an industry research firm.

Madrid-based company RR de Acuna & Asociados told Bloomberg there are about two million unsold homes in the country, due to the boom that saw about 675,000 new properties built every year between 1997 and 2006.

"Stock isn't being reduced and some of it will never be sold because of its quality and location," Fernando Rodriguez de Acuna Martinez, a partner at the company, told the news agency.

He added that some homes "may have to be demolished in the future to stop the slide in prices".

Recent drops in Spanish house prices could provide opportunities for investors, with the National Statistics Institute in Madrid reporting a 14.4 per cent year-on-year fall during the second quarter of the year.

The institute's latest house price index also showed that average values declined by 3.3 per cent from the previous quarter.
Share

Article created on behalf of Propertyshowrooms.com News Desk ()

Related Articles

  1. Tourists Spend Record 6.08 Billion in Spain
  2. Property Market Revival Gathers Pace in Spain
  3. Strong Overseas Demand Boosting Spanish Property Market
  4. Property Price Falls Decline in Spain in 2013
  5. Spain Now Commands 3rd-Most Tourists Worldwide



Let us search for you Let Us find Property in Spain for You

Fill out a requirements form and our experts will help you find a great selection of Properties for sale in Spain.

SubscribeGet Email Updates!

   

* We value your privacy and will never share your email address with anyone else.

USA Income Properties Fully Managed From $22,000
Development Showcase
Distressed Property in Sax Featured Property
Sax (Alicante)
House/Villa - 5-Bed, 3-Bath
€575,000 - Find out more »
Distressed Property in Pinar de Campoverde Featured Property
Pinar de Campoverde (Murcia)
House/Villa - 3-Bed, 2-Bath
€370,000 - Find out more »
Distressed Property in Benahavis Featured Property
Benahavis (Malaga)
Apartment/Flat - 2-Bed, 2-Bath
€235,000 - Find out more »

Subscribe to This Feed

RSS News
Subscribe to this RSS Feed
Country: Spain
Channel: All

More RSS FeedsGo

Media/Press SectionProperty News Search


   

News ArchivesNews Archives

View worldwide property news from as far back as 2005 in our News Archives Section.

View News ArchivesGo