Eight years later, with the onset of the global financial crisis, Madrid is still a Spanish province with the highest number of unsold units of new housing, according to the portal about Spanish property Kyero with reference to the Spanish Confederation of associations of manufacturers of building materials (Cepco).
And, although Alicante is the leader in terms of sales to foreigners in the country, high growth in the number of transactions and strong demand has not yet affected the decline in the overall supply of "primary" in the market". Completely opposite situation is on the coast, where the increased purchasing activity in the primary real estate sector.
According to the latest report Cepco, to the end of the first quarter of this year, total unsold housing in Alicante counted 42 912 residential units. In no other province in the country is there such a vast supply of unsold "primary." Alicante even managed to overtake the "leaders" of the market: Madrid (724 40 unsold) and Barcelona (42 074). However, Cepco notes that the current figure for Alicante is the lowest since 2010, when the market was exposed to 50 to 500 new residential units.
Spanish daily newspaper El Mundo reports that the difficulty in selling excess supply in the housing market in Alicante is partly connected with the construction boom, when it was built to an impressive number of real estate objects, the construction of which ended directly to the beginning of the crisis. Because often such facilities are located away from the coast, sell them turns out to be extremely difficult, even at reduced prices. As for banking, real estate, financial structure while holding these objects, not hurrying to sell while waiting for "better times" and the normalization of prices.
HomesOverseas.ru
