Housing Market of Spain Faces A Glut
March 5th, 2010 by aclazaro
In Spain’s real estate market, there are more than a million new homes that were constructed. Such news of oversupply will necessitate some good number of years to be assimilated by the entire market, which could cause such great delay in the country’s growth in the property industry. Not to mention the wider aspect of the economy.
Even if the current supply is now finding its way to adjust to the demand, the glut is still very apparent within the market. One real expert said that the destruction of a new building can turn out as bad as having too many as well.
Photo via feelmadrid.com
