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August 6, 2014

The number of unsold new properties in Spain decreased

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The number of unsold new properties in Spain decreased

By 3.3% in 2013 reduced the number of unsold new properties in Spain. In addition, it fell by 13.2% in relation to the registered indicators in 2009, when it reached 649,780 units of real estate. This indicator decreased in all regions, except Ceuta, Melilla, Madrid and Asturias. The largest decrease was recorded in Extremadura (-92.4%), Cantabria (-35.8%) and Navarre (-22.5%).

In Spain, there were 563,908 units of unsold new properties in late 2013, which is 3.3% lower than a year earlier. Thus, the rate of sales of “stock” of Spanish housing was suspended because in 2013 a decline was of 6.9%.

In cumulative terms, the “reserve fund of real estate”, ready to be sold, is 2.2% of the total housing stock in Spain and decreased by 13.2% from their peak values recorded in 2009, when “the stock of real estate” was equal to 649,780 objects .

Such data is the latest estimate leads from the Spanish Ministry of Development, which takes into account the new housing certificates issued by the Board of Technical Architects by the completion of construction works. Obtaining of this certificate housing means that property is now ready for operation, and therefore for the sale. Furthermore, according to these data, the total “stock of real estate” in Spain decreased in all regions in 2013 except Ceuta and Melilla (16.2%), Madrid (1.8%) and Asturias (1%).

On the other hand, the largest decline in the number of unsold new properties in Spain were reported in Extremadura (-92.4%), Cantabria (-35.8%) and Navarre (-22.5%). Followed by Murcia (-5.9%), Galicia (-5.7%), Andalusia (-5.6%), Aragon (-5.3%), Canary Islands (-3.8%), Castilla La Mancha (-2.8%), Catalonia (-2.7%), Castilla-Leon (-2.4%), Balearic Islands (-2.4%), Valencia (-2.1%), Basque Country (-0.6%) and La Rioja (-0.4%).

In addition, the official statistics of the Ministry of Development shows that a high percentage of “stock of real estate” is located in the provinces on the Mediterranean coast, as well as in Madrid and Toledo. As in the case of Barcelona (8.25%), Alicante (8%), Madrid (7.7%), Valencia (4.9%), Castellón (4.9%), Murcia (4.6%), Toledo (4 1%) and Almeria (4%).

 

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