Posted on July 22, 2016 in Property

The housing stock in Spain, for primary residences, fell by 0.71% in 2015, representing its first reduction in at least 15 years, to stand at a total of 18.97 million homes, according to statistics from the Ministry of Public Works.

In contrast, the number of non-main residence properties continued to grow, following the decline registered in 2011, and stood at a total of 6.56 million at the end of 2015, which is 2.3% higher than the previous year.

This type of property contributed to the total stock of homes in Spain closing last year with an increase of 0.19% which, nevertheless, represents its lowest annual increase in the last decade.

Thus, El Economista reported that the total of Spain’s housing stock at the end of 2015 reached some 25.54 million homes, with 74.2% of the total being primary residences (down from 75% the previous year) and the rest for other uses.

The Ministry’s data highlights that, at the end of 2015, housing stocks of primary residences fell in all regions while, at the same time, the stocks of non-main residence properties increased in all regions.

Regarding the total housing stock, Andalucía is the region which registered the greatest number of completed homes, with 4.40 million, followed by Catalonia (3.89 million), Valencia (3.17 million) and Madrid (2.95 million), while the regions to register the least number of completed homes were La Rioja (201,553 homes), Navarre (317,420) and Cantabria (363,195).