Planning approvals fall 55% in first half of 2008
Planning approvals fell by 55% to 162,969 in the first half of the year, according to figures from Spain’s college of architects. Not including social housing, planning approvals fell by 58.6%, implying that the number of new homes coming onto the market in the next couple of years will fall dramatically.
Polaris World struggling to repay debts says local news website in Murcia
A news website in Murcia claims that Polaris World – one of Spain’s biggest developer with a focus on holiday homes – is struggling to pay some of its debts to local government.
Barcelona property prices will fall 10% this year, and 20% in real terms over 2 years say estate agents
Barcelona’s property market has collapsed, and Barcelona’s estate agents’ association (API) forecasts that prices for resale properties will fall 10% this year, reports the Spanish daily ‘El Pais’.
Orihuela’s construction-related tax revenues plunge
Orihuela, a town in Alicante province, on the Costa Blanca, has seen its construction-related tax revenues plunge this year as the recession in Spain’s construction sector bites.
Spanish land prices fall 7.8% over 12 months to end of Q2, transactions by 38%
The price of building land in Spain fell by 7.8% over 12 months to the end of the second quarter, according to new figures from the Ministry of Housing. Building land in Spain, which normally accounts for between 40% and 60% of the cost of new homes, is now selling for an average price of [...]
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