Arab Today, arab today spain has nearly 700000 unsold new homes
Last Updated : GMT 12:35:11
Arab Today, arab today
Arab Today, arab today

Spain has nearly 700,000 unsold new homes

Arab Today, arab today

Arab Today, arab today Spain 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.

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*

Arab Today, arab today spain has nearly 700000 unsold new homes Arab Today, arab today spain has nearly 700000 unsold new homes

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: عقارات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday