Housing: 13 Homes Unsold For Every Thousand Inhabitants In The Provincial Capital Cities

07/08/2014 – Cinco Días

Spain is accumulating in its provincial capitals 12.6 unsold homes for every thousand inhabitants. The figure has risen 55% since August 2011, when the number of unsold homes in the Spanish capitals was 8.1 for every 1,000 inhabitants, according to data from the property portal Idealista.com, which has checked the properties of its database against the official data of the last municipal register of residents of 2013.

Alicante is the Spanish provincial capital with the highest density of second hand homes per inhabitant. The city, capital of the Alicante province, has 25.8 second hand properties for sale for every thousand inhabitants. After Alicante, Ciudad Real has the greatest number of homes per inhabitant, with an average of 25.6 homes for every 1,000 inhabitants.

Next on the list is Bilbao, where the density is 21.7 homes on sale for every 1,000 citizens. At the other end of the scale is Huesca, with 5.9 homes on sale for every 1,000 inhabitants, the Spanish capital with the lowest density of homes compared with its population.

Behind Huesca are Murcia (6.4 homes), Teruel (6.5 homes), Cuenca and Santa Cruz de Tenerife (7.1 homes in both cases). “The data demonstrates that despite the fact that the number of completed buy-sell transactions has increased compared with a few years ago, it is still not sufficient to absorb the stock of homes which has been accumulating,” affirms Fernando Encinar, head of studies at Idealista.com. “The price reductions have led many buyers to decide to take the leap to becoming landlords, but the macroeconomic data does not indicate that it is enough to significantly reduce the stock in the short term.”

Original article: Cinco Días
Translation: Aura REE

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