spain has nearly 700000 unsold new homes
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Spain has nearly 700,000 unsold new homes

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleSpain has nearly 700,000 unsold new homes

Madrid - AFP

Spain had nearly 700,000 new homes sitting unsold at the end of last year, with more than half clustered on the country\'s overdeveloped coast, the government said Tuesday. With demand fuelled by low interest rates and easy credit, Spain built nearly 700,000 new homes each year during most of the previous decade -- as much as Britain, France and Germany combined. But the global credit crunch and oversupply caused the property sector to collapse in 2008, plunging the Spanish economy into its worst recession in decades. There were 687,523 unsold homes in Spain at the end of 2010, a 0.08 percent drop from the total the previous year and the first drop since 2005, the public works, housing and transport ministry said in a statement. The drop was fuelled by a 5.9-percent increase last year in sales of new homes in Spain after three years running of falling home sales. Property purchases by foreign residents in Spain increased by 20.8 percent over 2009 as buyers took advantage of falling prices. More than half of the unsold new homes, 61 percent, are concentrated in the provinces of the coast and the Balearic and Canary Islands, according to the ministry. The number of unsold homes in Spain has risen steadily in recent years. It stood at 195,184 at the end of 2005, nearly double from the previous year. The unsold housing stock rose to 273,363 in 2006, 413,642 in 2007 and 613,512 in 2008. The government estimates it will take until 2014 for Spain to clear the bulk of its unsold housing stock.

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

spain has nearly 700000 unsold new homes spain has nearly 700000 unsold new homes

 



Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

GMT 09:00 2011 Saturday ,24 December

Elegant “Narciso” Vase Collection

GMT 11:11 2011 Thursday ,22 September

Bumble Ardy

GMT 13:57 2010 Thursday ,30 September

The Ahram \"photo\" and the Western media\'s reaction

GMT 23:01 2017 Monday ,13 November

Air raids on market kill 53 in north Syria town

GMT 06:21 2018 Thursday ,18 January

Suppressing a sneeze can be dangerous

GMT 08:02 2016 Friday ,19 August

Popular Mali radio presenter released

GMT 13:23 2016 Saturday ,09 January

Kyrgios leads Australia to Hopman title
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle