Published: 9th September 2013
New figures released by Eurostat have shown that construction levels in Spain fell by over 43% for the year ending June 2011. Spain's drop in construction is the highest figure for all member states within the Euro Zone, closely followed by Slovenia who saw a reduction of over 35% for the same period.
Looking across the Euro Zone as a whole, construction levels decreased by 11.3% for the period, falling almost 2% from the previous month. Monthly construction levels in the UK saw the largest increase at 3.8%.
With the authorities in Spain now taking legislative steps to address the issues of excess stocks of new properties, it looks to be an interesting period for the Spanish property market.