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The map above illustrates the size and location of the overhang of newly-built homes.

Based on figures from the Department of Housing for the end of 2011, the map is a bit out of date, but the problem today is just as big. Sales to foreigners increased in 2012, but so did the number of finished homes, so the net result was likely to be have been little or no change to stock levels.

To sort out this problem of the glut, which is weighing down the , Spain still has to sell a lot of new homes in Andalusia (Costa del Sol), Valencia (), and Catalonia (Costas Dorada & Brava). This is the problem that the so-called “” will have to solve.


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