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Fewer Than 50,000 New Homes Built in 2015

630,000 new homes built since 2010

630,000 new homes built in Spain since 2010

Spain’s housing stock increased only slightly (0.19% year-on-year) in 2015 with fewer than 50,000 new homes being built, bringing the total number of households in Spain to 25.5 million.

The number of new properties represents the lowest figure of the historical series, which began in 2001, and is 11 times less, or 91.2% less, than the number built in 2006 when over half a million new properties were constructed.

Since 2010, the total number of new properties has hardly risen with the cumulative total being just over 630,000. Compare this to the boom period between 2004 and 2009 when, according to the Ministry of Public Works, nearly three million new homes were built.

The residential market in Spain is still trying to absorb the surfeit of homes that were built during the peak years with many properties still standing empty.

Since 2013 the number of new properties built has fallen below 60,000 units per year, on average. Compare that figure with the boom years between 2005 and 2008 when the number was more than half a million new homes each year.

By Region

The region with the most finished homes is Andalusia with 4.4 million households, followed by Catalonia with 3.9 million. Valencia’s contribution to the country’s housing stock is 3.1 million homes, while Madrid has 2.95 million.

On the opposite end of the scale, the smallest number of finished properties is in La Rioja with only 201,553, followed by Navarra (317,420) and Cantabria (363,195).

By percentage increase, the numbers are all low. The largest increase in property construction has been seen in the Basque Country with 0.54%, (5,618), more properties built in 2015, when compared to the previous year. Following were Ceuta and Melilla with both seeing an increase of 0.5%.

The number of primary residences is 18,970,000, 0.71% less than in the previous year and representing the first decline in the number of homes in the last 15 years. However, the number of secondary residences grew by 2.3% year-on-year to stand at 6.56 million properties.