Housing stocks down

Wednesday, 23 May 2012 09:51

Written by Editor

The good news is that the stock of unsold new housing has dropped more quickly in Malaga than in the rest of Andalucia, from 36,000 units in 2009 to less than 15,000 today. But the bad news, according to the Business Practices Institute (IPE), is that the remaining units will be very difficult to sell.  IPE general director Jose Antonio Perez said that “to sell the remaining stock in the shortest time possible it is absolutely necessary to regain the trust of buyers in Britain, Germany and Scandinavia who are still wary of the legality of housing on offer” in Spain. He said construction had dropped to 10 per cent of what it was before the building boom collapsed and showed no signs of recovering.