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More bad news: Larger stock and -4.1% transactions

To solve the stock of the property market in Spain may take more years than expected. The Bank of Spain has reported that the Spanish banks hold a stock of nearly half a million houses, according to the newspaper 20minutos. Taking that figure into consideration, certainly the Banks have guaranteed to play  the main role in the sector.

All the agents indicate that the stock will increase gradually in 2011 and also credits will be even shorter than in 2010, especially for property investment. So, we have stock issue for several years.

Bad news never come together. Another negative and relevant figure for the market was released yesterday by the National Institute of Statistics (INE): in September the number of buying transactions has fallen by 4,1%.

Evolution of Property transactions in 2010, according to the National Institute of Statistics (INE):

  • January: 38.263
  • February: 41.033
  • March: 37.561
  • April: 34.326
  • May: 37.787
  • June 37.297
  • July: 43.838
  • August: 43.817
  • September: 36.049

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