The Spanish economy with respect to the real estate category is not having much success, maybe not the right measures are implemented. Is that too many new homes that fail to master, with the values on the floor, and strangely enough are being built as if the economic crisis had not existed, or rather, as if there were, as this sector has not been recovered, and things as they come, it seems that it will do in the coming months either.
One major problem that is occurring now with regard to this issue, is that banks are somewhat reluctant to grant loans to buy a home, so that beyond the intentions people have the power buy a house, if the banks do not provide the facilities, everything can collapse, causing excessive new housing continue to have no owner. In fact for everyone to get an idea of the amount in the Balearic Islands, there are some 45,000 vacant houses on offer, something that certainly is too.
That’s why the Real Estate Agents (API) of the Balearic Islands have made a complaint to the banks for granting the money to facilitate the reduction of housing stock.
The claim is that, as explained by the president of the College of the API, Josep Oliver, the rigidity of the banks when granting a mortgage eliminates potential customers who are willing to buy a home. The problem is that everything goes wrong, because the excess supply is compounded by weak demand, something that will keep property prices bottoming out, with no sign that this situation be reversed soon.
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