April 20, 2012 at 8:20 am #56628
The number of homes for sale (resale and new build) as a percentage of the overall housing stock is an interesting figure because it helps you evaluate how over-supplied (or under-supplied) the market is.
I’m trying to compare Spain to other countries on this metric. Can anyone help?
I’ve worked out that in spain there are approx.:
2 million homes on the market
26.5 million homes in total
So 7.5% of the total housing stock is on the market. Sounds like a lot to me, but how does it compare to other countries?
April 20, 2012 at 8:50 am #108464
Well, it might be easier to compare volume of houses for sale as a percentage of the population
On the biggest Swedish property site, accounting for I should imagine 85%-95% of sales, there are currently about 44 000 properties for sale. In a 9,5 million population.
Do the Spanish comparison…
By the way – anyone wanting to sell to Swedes could do worse than advertsie on http://www.blocket.se
April 20, 2012 at 9:56 am #108466
I want to add that we have almost always had a chronical under supply of real estate since we have a socialistic view on renting property out… you are not allowed to even recoup your own costs. A “goverment” owned company decides what you are allowed to charge per sqm. Strangely 😆 enough no new rental apartments have basicly been built for the last 20-30 years “except a few which are subsidised by taxes” and the goverment also limits the supply of “bostadsrätter” ownership apartments by only giving licenses/permits in the cities out to the big four companies. Bostadsrätt is actually quite a good form of ownership and usually gets to much criticism in the media. Crony capitalism at it’s finest. Getting a rental apartment will mean that you have to stand in line in the cities for around 10-20 years. This is about to change now though and people are protesting like crazy. http://www.youtube.com/watch?v=U06jlgpMtQs
What I want to say is that Sweden is not a good comparison. Since the free market is not allowed to operate freely enough to give you a fair view with other countries.
April 20, 2012 at 10:45 am #108467
Ireland had an oversupply of 300,000 empty new homes mid 2010, new building came to a complete halt here, not sure how that figure stands today. I was gobsmacked on my recent visit to Orihuela Costa and see new builds just near punta prima and at La Zenia also – with a huge oversupply of property in spain when will they ever learn!
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