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Gómez-Pintado: Housing Stock Will Decrease By 25% In 2016

23 November 2015 – El Economista

After the summer, the stock of unsold homes in Spain amounted to 462,000 properties, i.e. less than half the number recorded in 2008 (1.2 million). Moreover, this supply is forecast to decrease by 24.5%, i.e. by one quarter, next year, down to 349,377 homes.

That is according to analysis published on Friday by Juan Antonio Gómez-Pintado, the President of Asprima (Madrid’s Property Developer Association) at a conference entitled “Economic outlook for 2016 and trends in the real estate sector”, organised jointly with Sociedad de Tasación.

This estimate, prepared using data from Spain’s National Institute of Statistics (INE), the real estate professorship at the Institute of Business Practice (IPE) and the Network of Qualified Real Estate Advisors (RAIC) indicates that 74% of the remaining stock is located in the Community of Valencia, Castilla-La Mancha, Andalucía and Murcia, and that next year, this percentage will decrease to 51%.

Meanwhile, the stock of empty homes in Madrid will decrease to 6,000 properties next year, whilst in Cataluña it will drop to just over 4,300 homes.

On the other hand, Gómez-Pintado, also indicated that, taking into account migration flows, the need for homes in Spain will amount to around 140,000 properties over the next few years, with Madrid playing a particularly important role, where the figure will range between 30,000 and 40,000 homes.

Original story: El Economista

Translation: Carmel Drake