wilki

Spain's stock of unsold new homes under forecasts
13 June 2009 @ 13:23


* 614,000 completed new homes left unsold



* Analysts say number less than forecast



* Another 627,000 still in construction



* Building tycoon abandons infamous project half finished
I dont know if any of you have driven to madrid alond the A4 but near sesena you can see all the cranes,
as the figures say over half a million unsold and over half a million half built, jaw dropping. google it,

Makingthemove

I got all excited for a sec then - thought you meant a new mini car! I was going to claim it, if it was going spare!

agoreira

http://news.bbc.co.uk/1/hi/business/7584097.stm

jojojojojojojojojojojojo

They're building a whole new town near us. They started it a year ago, then they stopped after 6 months, it then became all overgrown and now they've recently started building it again. All the cranes are up, the pipes are being laid, lampposts erected etc and its all systems go - for now!!?? If they keep going at this rate, it'll be as close to completion as the big housing estate on the outskirts of the existing town which is perfect in everyway, roads, road markings, lighting, driveways, manicured grass verges...... just no houses yet!!???!!!! What are they thinking!!

Jo xxx

steviedeluxe

This site was developed by a certain Francisco Hernando (known in the press as El Pocero); the development has more than 13,000 homes (Not half a million ! All Spain maybe)
There are plenty of places closer to Madrid (eg Alcobendas) that have good transport links and properties without the sky-high costs of central Madrid, so this development was always going to be a risk.
According to the following Wiki link the population in Seseña has gone from 6,500 in 2003 to 13,000 in 2006 and is expected to reach 60000 by 2011. However it didn't stop 2,000 properties having to be sold to the banks in January 2009 in order to satisfy debts.
http://es.wikipedia.org/wiki/Francisco_Hernando

steviedeluxe

I've read that Spain's had more migrants over the last 8 years than the UK. I guess the thinking is that when (if?) the European economies pick up again then the demand for housing in sunny Spain will soar again.

jojojojojojojojojojojojo

well they'd better get some work lined up for these migrants then!! Cos these arent retirement type homes/villas. They look as if they'll be "housing estate" town type houses!?

Funny old world isnt it. Theres the UK bursting at the seems and Spain has all this space and all these empty and half built houses...

Jo xxxx

steviedeluxe

Mmm - I'm not a fan of recent migration policy in the UK but I feel it's misleading to say it's "bursting at the seams". Parts of the UK may be heavily populated, but there's still plenty of space. Even England has quite a few counties - Lincolnshire, Wiltshire, Devon, North Yorkshire etc - with lots of space. There's certainly loads of space in Wales and Scotland. Believe it or not the population of Liverpool has declined by half a million over the last 40 years. There are still areas of northern towns where you can buy property quite cheaply - not that I'd advise you to!

Fredbargate

£25,000 suit you?

http://www.findaproperty.com/searchr...=0&areaid=1435

Fredbargate

Too expensive ? How about twelve grand ?

http://www.findaproperty.com/searchr...=0&areaid=1440

agoreira

I always think that when we come in to land, from the air, looks to be loads of space! Plenty of room where I am in UK, no complaints. Plenty of room in Spain too, so why do so many seem to want to be packed in along the coast. In the Paradise Lost programme there was some aerial photography of the coast, and it looked horrendous!

agoreira

And I bet it's legal!

Madridboy

Yup cram 'em all in I'm sure there's some countryside that hasn't been spoilt yet, it's not like there's a job shortage or economic crisis is it.