Spanish housing market: Crisis? What crisis?

A glut of about 400,000 properties built in the frenzy of a construction boom now weighs on the Spanish housing market, putting downward pressure on house prices.

Spain’s saving banks seek new funding strategies

Principal portfolio holdings of the cajas

Caja Navarra sells on civic banking

Manuel San Salvador, Banco Urquijo

“Given how much Spanish bank stocks have fallen so far this year, our analysts believe that it may actually be a good time to buy Spanish banks”
Manuel San Salvador, Banco Urquijo

This excess supply has led to a dramatic fall in the number of new houses being built, hitting property developers and construction companies with lower growth and unsold inventories.

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