Own A House - real estate market news

In December-January group G-14, which is uniting the largest building companies of Spain, has not begun any developer project.
February data are not published yet, but it is supposed, as last month the situation remained the same.
The main reason of developers such behavior can be explained by the fact that Spanish real estate has a lot of unsold houses. So, company Metrovaseca planned to sell 2,463 thousand objects, constructed in 2008, but actually it has sold only 657 (27 %). The total number of non-realized habitation in Spain can reach 1 million objects.