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Overseas Property News
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Spain property news: construction levels to fall by a quarter
Country: Spain
25 August 2009 The volume of new residential properties in Spain constructed is expected to fall by as much as 25% by the end of 2009, according to a report by the Fundación Laboral de la Construcción. Residential building activity levels have fallen over the past year or so, culminating in the loss of hundreds of thousands of jobs, due to the global financial crisis, an oversupply of Spanish properties, and a fall in demand for Spain property. Experts project that the new build figures in Spain will remain low until the end of next year. The construction labour foundation basis its projection on the amount of cement used by Spain property developers, which dropped by 24% last year, the largest fall in a decade, while demand for cement has fallen even further so far this year. Editor’s comment: "The fall in Spanish housing starts should have a positive impact on the market in the medium to long-term, as it should allow demand to catch up with the existing oversupply of housing stock."
See Also: Marc Da-Silva, Spain
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Price: €79,000
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Type: Apartment
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Price: €80,000
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Type: Bungalow
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