Yes, I think 10% is a pretty good estimate.
Here’s the calculation.
Approx number of complexes in Almerimar (30 as counted on google maps)
Average number apartments per complex 350
Total number of apartments = 10500
In one complex that I previoulsly owned I counted over 30 “For Sales” boards which is about 10% of the apartments in the complex. So if you use that as a guide and say that 10% of apartments in each complex are on the market then in Almerimar there should be around 1000 apartments “For Sale”
Fotocasa returns 144 apartments which is around 13% of the market.
For a great deal of those 30 complexes there are a significant number where virtually all the properties are for sale as they were completed 2008, 2009, when buyers were thin on the ground. So for Almerimar 10% of properties on Fotocasa is being generous.
What is definite is that since May the number of properties on fotocasa has increased by 25% so it’s almost certain that the total market has increased by 25% in this time and it continues to grow!
well its certainly not a scientific approach youve come up with, but I suspect youre not a million miles away in believing the number is a lot higher than FC shows. I can see something similar in La Linea, FC has around 400 properties, I can say with some comfort that there’s far more than that, perhaps 3 or 4 times. We dont have empty blocks of flats here, its not a holiday town.
Perhaps your estimate needs to take into account that not all towns have huge empty complexes, certainly inland villages dont.
I suspect the number is at least 3 times, perhaps 4.
BTW, its now 402k