Housing starts, construction completions, sales, and excess inventory – graphic view

I came across this chart at idealista.com, one of Spain’s leading property portals, and thought it worth sharing with you. It shows how dramatically Spain’s new housing inventory grew during the boom years.

According to this chart, the glut stopped growing (0% change) in 2010. We can only hope it turns substantially negative in 2011 and beyond, meaning the market is digesting the excess housing inventory. The Spanish economy is in desperate need of it.

Visados Obra Nueva = Planning Approvals
Certificaciones = Construction Completions
Transacciones Nueva = New Home Sales
Variación Anual Stock de Vivienda Obra Nueva = Annual Variation in New Housing Stock



Leave a Reply

Profile photo of Mark Stücklin

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.