Holiday home sales down almost 90pc since 2006

New figures from the Department of Housing reveal the true extent of the slump in holiday-home sales to foreigners

During Spain’s runaway housing boom of the last decade, tens of thousands of new homes were built on the coast with foreign buyers in mind. Unfortunately, foreign buyers didn’t show up to the party in expected numbers, which partly explain why Spain has such a glut of new homes on the coast.

But look how dramatically purchases of holiday-homes by foreigners have collapsed. Down 87pc in the first 9 months of the year compared to the same period in 2006, and -16pc Q3/Q2 At this rate foreigners buying holiday homes will do nothing to help absorb Spain’s glut of new homes. The figures are difficult to believe: Just 490 sales in 3 months over the summer. Are the figures wrong? If not, who will buy all those empty holiday-homes? Unemployed Spaniards?

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About Mark Stücklin

Mark Stücklin is a Barcelona-based property market analyst and consultant, and author of the 'Spanish Property Doctor' column in the Sunday Times (2005 - 2008). He can be reached by email on ms@spanishpropertyinsight.com.