18.06.09 - 14:27 -
SLOWDOWN. Only 44 per cent of new builds are sold, / C. MORET
Facts and figures
The property experts all agree that before an improvement can be seen in the disastrous state of the property market in the province of Malaga, it will first be necessary to sell most of the unsold houses and apartments already built and currently without buyers. The stockpile of finished but unsold housing units in the province of Malaga has risen to 21,092, according to figures made public last week by the Housing Ministry, this relates to the period leading up to 31 December 2008. This is the first study of its kind carried out by the Ministry.
The study puts the province in sixth position with respect to the number of new houses unsold, behind Barcelona, Madrid, Alicante, Valencia and Murcia. Together, these provinces make up 37.7 per cent of the nationwide stock of houses and apartments looking for buyers. It will be noted that most of these provinces are also on the Mediterranean coastline. Of the total number of unsold houses, the Ministry estimates that 70 per cent will be primary residences, while the remaining 30 per cent will be bought principally as vacation homes.
As far as houses under construction are concerned, there were 16,107 in the province at the end of 2008, of which 8,977, or 56 per cent, had failed to sell up to that point.
The Association of Promoters and Builders of Malaga believe there is sufficient demand to sell these houses and apartments in the space of two years, at most. The problem is that the banks are not being flexible enough in providing mortgages for purchasers, according to vice-secretary general of the association, Francisco Romero. He asks that the banks respond more proactively to the crisis, “so that we can get new housing projects up and running,” as he put it.
