Costa Blanca developers delivering homes without occupancy licences
Developers in the Vega Baja region of the Valencian Community, where the South Costa Blanca is located, regularly deliver properties without the Licence of First Occupancy (LFO) that owners need to connect to the utilities, a consumer association has claimed.
Spanish construction sector output falls 8.4% in August
Spanish construction sector activity fell by an annual 8.4% in August, according to the latest figures from Eurostat, the EU’s statistics office. Spain’s construction sector decline was, once again, the largest of all the EU countries tracked by Eurostat.
Falling property prices “no drama” says Spanish housing minister
“It’s not a drama” if house prices fall and homes cost “what they are really worth” said today Beatriz Corredor, Spain’s Minister of Housing, who also suggested that property prices were becoming “inaccessible for the salaries” of Spaniards.
Spanish developers advised to drop prices 30% now, or sell for 50% less in 3 years
Spanish property developers need to drop their asking prices by 30% now, or risk selling for up to 50% less in 3 years time, argues Javier Ortiz, finance director of the developer Grupo Inmo, according to a recent article at the Spanish financial news website elconfidencial.com.
Spanish housing stock grew by 30% during the boom
The stock of housing in Spain grew by 30%, of 4.5 million properties, during the property boom of years of 1995 to 1997, according to a new report from Spain’s Foundation of Savings Banks (Funcas). During that time Spain built more new homes, and used more cement than any other European country.
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