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Unsold properties doubles in 2 years

Wed 24th Aug 2011

Spanish property portal has published a report detailing the nature of currently unsold properties throughout Spain.

The report was based upon both the Municipal census registry of 2010, and details of the 900'000 properties listed on their database.

The report found that major cities of each province now have around 2.2 times more unsold properties than they died in March 2009.

Lugo topped the list as being the provincial capital with the highest density of resale properties for sale per capita, with an average of 16.4 unsold properties per 1000 head of population, followed by Zamora with 15.9, and Ciudad Real with 14.7.

At the foot of the table, and therefore the cities where the property market is at its healthiest, are Soria with 2.9 unsold resale properties per 1000 head of population, and Melilla with 1.5.

Cities which now have the largest number of resale properties in relation to their population are Bilbao, Madrid, Seville and Valencia.

With such a glut of unsold properties, and prices tipped to fall by as much as a further 10% before the market plateaus, potential buyers of Spanish properties will be certain to find plenty of bargains around at the moment.

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