According to the publication, there are more than 24,000 completed homes in the region waiting for their owner. Some real estate companies, hoping to find a buyer, offer a scheme of 'two homes for the price of one', that is, for the purchase of expensive housing they give away as a gift, for example, a one- or two-bedroom apartment. Another scheme that companies are forced to use is renting an apartment with the prospect of its repurchase, when the money paid as rent can later be credited towards the cost of the apartment.
President of the Association of Promoters of Spain Guillermo Chicote nevertheless believes that prices for new housing will not fall seriously, since this market has undergone correction at least twice in the past year. 'Let no one expect that prices for new housing will fall by 30% or 40%, because we would rather give the homes to the bank,' he told reporters. According to Chicote, the government should respond to the situation in the sector by introducing a fixed mortgage quota for the consumer, otherwise 'this situation could last three to four years.'
As reported by RIA Novosti, the National Institute of Statistics (Instituto Nacional de Estadistica, INE) published data according to which the price for free-market housing in the second quarter of 2008 fell by 0.3% compared to the same period in 2007. The price for secondary housing fell by 4.9% over the same time period.