Please refer to the graphs below to help visualize some of the housing data cited in the article “Developers stuck with vacancies due to overbuilding.”
The current state of the housing market in Spain is largely due to construction efforts oversaturating the market with housing supply. From 2002 to 2009, housing supply outpaced demand, in some years by more than 130,000 homes.
Source: RR. Acuña & Asociados. April 2014.
Some regions of the country are starting to see demand, and price increases, largely from foreign investment. But the recovery is concentrated on major metropolitan regions such as Madrid and areas along the country’s coast. Many of the developments just outside urban areas are still struggling with high vacancy numbers.
Source: Registered real estate statistics, Spanish Property Registrars. May 2014.