{"id":2752,"date":"2011-02-25T13:27:19","date_gmt":"2011-02-25T12:27:19","guid":{"rendered":"http:\/\/taylorwimpeyspain.com\/?p=1090"},"modified":"2017-02-23T13:42:28","modified_gmt":"2017-02-23T13:42:28","slug":"oversupply-of-properties-in-spain-expected-to-fall","status":"publish","type":"post","link":"https:\/\/taylorwimpeyspain.com\/blog\/oversupply-of-properties-in-spain-expected-to-fall\/","title":{"rendered":"Oversupply of properties in Spain expected to fall"},"content":{"rendered":"<p><strong>\u201cA change in the trend\u201d is how Jos\u00e9 Manuel Galindo, President of the APCE , describes the latest sales figures showing the market grew by 6.8pc last year, and by 5.1pc if you exclude social housing, reports Mark Stucklin of <a href=\"http:\/\/www.spanishpropertyinsight.com\/buff\/2011\/02\/18\/developers-call-change-in-trend-and-expect-glut-to-shrink-this-year\/\" target=\"_blank\">Spanish Property Insight<\/a><\/strong><\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><em>On the back of official figures showing housing sales up last year, Spain\u2019s Association of Developers and Constructors (APCE) forecast the housing glut will shrink this year for the first time since the crisis began.<\/em><\/p>\n<p>&nbsp;<\/p>\n<p>Galindo told the Spanish press that the official figures do not count repossessions or debt-for-property swaps as sales, meaning that last year\u2019s increase was a genuine increase in home sales, driven by a recovery in demand. I remain sceptical about this but will give him the benefit of the doubt.<\/p>\n<p>As a result of rising home sales and plunging new housing starts, the APCE forecasts that Spain\u2019s legendary housing glut will start to shrink from this year on. \u201cMore flats are now being sold then built,\u201d Galindo told the Spanish press.<\/p>\n<p>Galindo also forecasts that official figures will continue growing for at least the first couple of months this year thanks to a surge in transactions at the end of last year before mortgage tax credits were eliminated. Sales take a couple of months to get counted in the official figures. After that, however, the official figures are likely to go down.<\/p>\n<p><a href=\"http:\/\/taylorwimpeyspain.com\/blog\/wp-content\/uploads\/2011\/02\/logo-spanish-propety-insight.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-thumbnail wp-image-1091\" title=\"logo-spanish-propety-insight\" src=\"http:\/\/taylorwimpeyspain.com\/blog\/wp-content\/uploads\/2011\/02\/logo-spanish-propety-insight.gif?w=150\" alt=\"logo-spanish-propety-insight\" width=\"150\" height=\"104\" \/><\/a>Posted on February 18, 2011 by <a title=\"Posts by Mark\" href=\"http:\/\/www.spanishpropertyinsight.com\/buff\/author\/admin\/\">Mark<\/a><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>\u201cA change in the trend\u201d is how Jos\u00e9 Manuel Galindo, President of the APCE , describes the latest sales figures showing the market grew by 6.8pc last year, and by 5.1pc if you exclude social housing, reports Mark Stucklin of Spanish Property Insight &nbsp; On the back of official figures showing housing sales up last [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":true,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[4],"tags":[60,294],"class_list":["post-2752","post","type-post","status-publish","format-standard","hentry","category-spain","tag-association-of-developers-and-constructors","tag-jose-manuel-galindo"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - 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