36 | CRISIS IN SPAIN
from them.” There was huge scepticism about
any proposals emanating from any part of the government. It does not help that the government’s response is fragmented and delivered via the regional authorities, multiplying cost, reducing impact and running the risk of the promotion of contradictory policies. It is hard not to have some sympathy with the politicians. This is just one of many problems on their plate and it must be diffi cult to decide which to tackle fi rst and not to take action to deal with one crisis that, accidentally, makes another worse.
4. Almost everyone thinks the problem is too big to be solved by individual initiatives – yet few are ready to work together to take – or pay for – collective action
This was the least unexpected but most depressing part of the feedback we received. Everyone recognised the size and
importance of the problem but no one had yet reached the stage where they
FEATURE
felt that it was necessary - or possible - for everybody to get together to solve it.
Most seemed to fear sharing
information and so, possibly, losing competitive advantage more than the crisis itself. This feeling seems to have been
encouraged by the slight upturn they have seen in recent months. Perhaps this is why there has been
such silence from Spain. OPP thinks this is a serious mistake.
The crisis is still grave and could well get worse. Many of the initiatives being taken are fragmented and address only a part of the problem. Surely, now is the time for the
industry to get together, to debate the problem, to propose solutions and to lobby for their implementation. We at OPP would be happy to
facilitate such a discussion if our readers think it would be worthwhile. If you do, let us know.
5. No-one is expecting volumes to recover to anything like 2006 levels
Fig. 8 - Purchases in 2011 by the nationality of the buyer Nationality UK France
Germany Russia Italy
Sweden Norway Belgium China
Holland Romania Morocco
Switzerland Denmark Algeria Finland Ireiand Ukraine
Argentina
Rest of World Foreigners Spanish Total
Number of Purchases
4.007 1,972 1.702 1.645 1.187 1.176 1.049 1.031 813 763 672 399 313 309 306 274 271 258 211
2.577 20.935
325.602 346.537
% of Total Market
1,16% 0,57% 0,49% 0,47% 0.34% 0.34% 0,30% 0,30% 0,23% 0,22% 0,19% 0,12% 0,09% 0,09% 0,09% 0,08% 0,08% 0,07% 0,06% 0,74% 6,04%
93,96% 100,00%
% of Foreign Buyers
19,14% 9,42% 8,13% 7,86% 5,67% 5,62% 5,01% 4,92% 3,88% 3,64% 3,21% 1,91% 1,50% 1,48% 1,46% 1,31% 1,29% 1,23% 1,01%
12,31% 100,00% / /
120 100 80 60 40 20 0 2007 2008 2009 Source: INE Fig. 6 - Construction - Spain -v- EU27 Average
120 140
100
60 80
40 20 0
2005 2006 2007 2008 2009 Source: INE Fig. 7 - Building Licences Issued
120 140
100
60 80
40 20 0
2002 2003 2004 2005 2006 Source: INE 2007 2008 2009
EU 27 Spain
2010 2011 2012
Andalucia Canaries Murcia Valencia
800,000 1,000,000
600,000 400,000 200,000 0 2005 2006 2007 2008 2009 Source: INE Fig. 5 - Prices 2010 2011 2012 1,200,000
Spain Malaga
www.opp-connect.com | DEC 2012/JAN 2013 Fig. 4 - Sales Volumes - Malaga and Spain
2010
2011
2012
Rehabilitation in buildings New buildings
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