Holiday homes make up almost half Spain’s glut of new properties

Spain has close to 1 million newly built properties languishing on the market in search of a buyer, and almost 50% of them are holiday homes on the coast, claims a recent article in the Spanish financial daily Expansion . As a result, coastal areas of the Valencian Region, Murcia, and Andalucia have gone from being the stars of the holiday home boom to leaders of Spain’s growing glut of unsold new homes. According to the latest figures there are 46,366 unsold new homes in Alicante province