Nearly twenty years ago, the real estate industry went from complete to nothing. Many construction companies went bankrupt and many housing and housing projects were paralyzed. A situation which, today in 2024, seems to be starting to reverse itself.
The urbanization of the Costa Miño golf coursein La Coruña, was one of the symbols of this bursting of the real estate bubble. Hundreds of cabins were left half-built, but are now completed and sold.
“As if the roles had been reversed. What was before It was a half-abandoned and empty urbanization, now it’s packed“explains Catalina Morado, councilor of Concello de Miño.
Faced with the lack of new housing, the few “skeletons”, half-built houses, vestiges of the crisis, are now sold, already for more than 350,000 euros.
“15 years ago, no one could have thought that, with the path we were taking, we would find ourselves in this situation. Every month we register around 150 people,” explains Manuel Faraldo, mayor of Miño.
NOW, 1,250 people already live in this abandoned urbanization and 250 more are expected to do so soon.
In addition to the rescue of these ‘skeleton’ houses, the purchase of land to build single-family houses is also increasing, as promoter Juan Manuel Fernández confirms: “At the budgetary level and at the movement level, it has been reactivated a plot.”
And forecasts continue to indicate that in Spain, over the next two years, construction will continue to increase by 1.5%.
