| Date: September 8, 2010 | Source: AlertNet |
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Loading ... The housing prices will fall an additional 6% over the next three or four quarters, until the second half of 2011, after which time enter into a stabilization phase which will last until 2013 to return to pick up slowly in the late that year or early 2014, Bankinter.
In a report, the agency explains that this is because the "stock" of unsold homes, which he estimates is situated in the 900,000 homes, will not descend until you net jobs created in late 2012.
"If events develop in this way, throughout 2013 the current" stock "could be cut in half, a situation that would allow the reactivation of residential construction during 2014 and probably also the prices," notes the report .
Among the reasons for the delay in the absorption of "stock" are mainly three: the real estate portfolios of banks and, above all, of the boxes, the supply of housing used, output is difficult because the owners are reluctant to "throw "prices, and overexertion have to do families to become homeowners.
On this last point, Bankinter said that the withdrawal of the residence deduction for incomes above 24,000 euros from 2011 and the increase in VAT from July will play an important role. In this regard, notes that "these measures should be reflected in an expansionary phase of the cycle."
WHY IS STILL RAISING HOUSES?.
The report asks why they are raising houses about 18,000 homes per quarter, if sales of new buildings are completed and balanced at around 230,000 units a year.
In his view, maintaining a slight activity reflects housing already committed by builders and financial institutions to develop land purchased and foreclosed assets, respectively.
"If these developments are not made, its valuation would be even lower and would represent a bigger problem for both parties," as would a reduction in its financial value, the report said, adding that "this inertia is inevitable, although tending to depleted over the next two years. "
However, Bankinter riveted to the recovery of the economy and employment, estimated for 2013, will lead to a resumption of construction "unforced" New housing and return to the activity of the promoters at the end of that year.
In conclusion, Bankinter estimates that "the real estate sector faces a period of time in the wilderness about three years in terms of demand and prices." "The recovery of the Spanish housing market could take place from 2014 or something before employment would improve if" sentence.
| Date: August 18, 2010 | Source: Reuters |
Go ahead and rate this post Loading ... Production in the construction sector recorded in June rose by 2.7% in the euro area compared with the previous month, an average that Spain exceeded an increase of 7.2%, second only to Romania (16 , 5%).
The increase of 2.7% in the countries of the euro comes after production in May dropped 0.7%, according to figures released today by the EU statistical office, Eurostat.
In the whole European Union, the construction also rose in June, with 3.5%, following the drop in May (0.1%).
Compared with June 2009, production in construction rose by 3.1% in the states of the euro and 5.4% in the EU.
In Spain, in annual terms, increased production reached 18.6% in June from 18.9% drop in May.
Of the fourteen member states with available data, output in the construction sector had monthly increases and decreases in eight six.
The most marked increases were registered in Romania (16.5%), Spain (7.2%) and Poland (4.5%), while falls were most pronounced in Hungary (2.3%), Netherlands ( 1.8%) and Slovenia (1.6%).
By sector, building construction grew 3.3% in June in the euro area and 5.7% in the Union after the falls in May (0.3% and 0.5% respectively).
Civil engineering grew by 1.2% in the countries of the euro and 2% in the twenty-seven, having fallen by 2.9% and 1.9% respectively the previous table.
Compared with the same month last year, the construction output rose in five and fell in nine countries.
The most significant year increases took place in Spain (18.6%), United Kingdom (13.6%) and Poland (10.2%) and the largest decreases in Hungary (19.6%), Bulgaria (17, 5%) and Slovenia (16.9%).
The construction sector experienced a building annual rise of 6.4% in the euro area and 7.5% in the EU, following decreases of 5.6% and 2.3% respectively in May .
The civil work on the other hand fell by 6.7% in the countries of the single currency and 0.6% in the EU, following declines of 9.2% and 3.4% respectively in May.
| Date: May 23, 2010 | Source: Sergio Jesus |
Go ahead and rate this post Loading ... The Development Ministry has launched an Efficiency Plan which aims to ultimately reduce by an average of 22% the cost of construction of highways and railroads.
The plan includes a set of measures to prepare draft solutions "more functional and economical," while always complying with all environmental requirements, quality and safety, according to data collected by Development Europa Press .
Do you think the Ministry of Development will achieve the goal set?
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| Date: July 20, 2009 | Source: Sources |
Go ahead and rate this post Loading ... The large estate that form the G-14 were chained six consecutive months (December 2008-May 2009) on the construction of a single new private housing, which has never happened before in these companies, as indicated in Europe Press sources of this association.
Only one of the companies that make the organization has started the construction of about fifty stories, although it previously sold and housing, not to put on the market.
For the rest of 2009, the G-14 has that big companies do not reach even started building five hundred new homes.
For the overall market, the 'lobby' keeps its forecast that this year the launch of new housing is not reached the record low of 150,000 units.
This minimum is far from the record harvest in previous years (with a high of nearly one million new housing starts in 2006, according to the Superior Council of Colleges of Architects).
The slowdown in residential construction is due to the slowdown recorded by the sale of flats (down 32.2% in May to 34,012 operations according to latest figures from INE) and the subsequent generation of a 'stock' of unsold homes ( completed around 630,000 units and 200,000 more under construction, according to the Ministry of Housing), despite experiencing declining prices.
DISCOUNTED THE THICK OF ADJUSTMENT.
In this regard, the G-14 ensures that the floors accumulate a cash decrease in the price of "just over 20%" since early 2008, which have been considered as the "bulk of the adjustment" provided.
For this group, official statistics still show this fall, because they accumulate a certain delay. They are made from entries in the registration of contracts on purchase agreements normally performed several months earlier.
Therefore predicts that the official statistics of housing prices continue to show declines in the coming quarters to reflect the decline already recorded in practice.
Regarding the impact that falling prices may have discounts with some financial institutions are putting their real estate assets in the market, the G-14 believes that "only makes explicit what is already a reality," referring to the decline actual prices of the flats.
| Date: May 11, 2009 | Source: Europa Press |
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Much has been said of subsidized housing (VPO / VPP), one of the biggest bets of the Government in the construction sector, but apparently still has a long road ahead to become the great hope of salvation, and have wanted to predict various stakeholders. Five regions did not raise even one protected ground in the first two months of the year. These are the regions of Aragon, Asturias, Cantabria, Navarra and La Rioja, according to the Ministry of Development.
The housing promoted by the government which were completed units reached until February 1115, 29.4% less than a year earlier. Almost half of these, 512 units were built in Catalonia, a region that is at the forefront in the construction of social flats at the start of the year.
The second community was more finished floors Madrid (with 240 households), followed by Andalusia (200), Castile and Leon (47), Basque (45) Balearic Islands (23), Murcia (16), Valencia (15), Galicia (10), Canary (3), Castilla-La Mancha (3) and Extremadura (1). In the rest zero. However, in Aragon floors were completed 1,748 private developers in Cantabria and Asturias 1411, 1,301.
| Date: March 10, 2009 | Source: Europa Press |
Go ahead and rate this post Loading ... The large estate that make up the G-14 accumulates two consecutive months (December 2008 and January 2009) on the construction of a single dwelling, which has never happened before in these companies, according to Europa Press reported sources sector. The causes: the collapse of the contraventa and over-stock.
As of February, although the companies have yet to make the count, the same sources indicate that "there is nothing to indicate that the situation has changed significantly."
The slump in housing sales (down from 32.6% to 564,464 units in the 2008, according to the Ministry of Housing) and the 'stock' of unsold flats (between 700,000 and one million units, according to sources ), with funding problems, are making the break builder in the industry.
Various employers agree that real estate in 2009 the construction of new homes fail to meet even the dimension of the 150,000 new homes, a record low away from the records of previous years (up to almost one million in 2006, according the Superior Council of Colleges of Architects), with the consequent effect on employment.
The decrease will repeat the crash has already occurred in 2008 when it began to build 252,916 new homes, 58% less compared to 2007, and the lowest figure since 1993.
The slowdown in housing starts in the large estate is recorded after the fall of these firms in their pre-sales recorded in 2008, according to accounts last year that the G-14 companies listed have been submitted to the National Market (CNMV).
FIGURES
Thus closed the pre Vallehermoso of 281 flats in 2008, 78% less in relation to the previous year; Parquesol sold 54 floors, 77% less, and Metrovacesa 137, 84.9% less.
Similarly, Colonial signed the pre of 51 houses, 73% less than a year before, Realia sold 326, down 29% and Martinsa Fadesa, despite being in bankruptcy, prevendió 2,073 units, up 57% less.
In addition, Metrovacesa revealed that of the 2,463 homes built, only 657 (counting the 137 sold in 2008) are prevendidas, which the company has a 'stock' of homes being built without selling compromised of 1,806 flats, which nevertheless hopes to give out between 2009-2010.
In the same vein, states reported that the 'stock' of 1,728 homes that had to last year had only committed the sale of a third party, namely 579 floors.
