The combination turnover from the top 30 real-estate organizations dropped to 6,030 million euros in 2012, and that is only 2.1% lower than in 2011 but 50% less than in 2009, based on a survey by DBK, a subsidiary of Informa D&B. This really is regardless of the sale of assets to financial suppliers.

Top 30 Real-estate companies turnover was only 2.1% lower than in 2011

The Spanish property market was engrossed “in an intense crisis”, says DBK, however the real-estate companies’ income is stabilising this year, as a result of bottoming out of selling prices.

Nevertheless, residential construction has continued the downwards pattern noticed in recent years, decreasing by 12.1%, placing the value of construction work at 30,210 million euros. DBK calculate that, in conjunction with the close of 2013, this variable is going to be reduced by an extra 9%.

In the meantime, the amount of properties completed decreased by 25.6%, achieving a total 133,415 units, a number which is 80% less than in 2007, and take into account an additional decrease of over 50% for the present year, based on this review.

Activity additionally continued to diminish in the non-residential segment, where the type of production dropped by 9.7% in 2012 along with the total construction area within this type of work dropped by 31.3%.

DBK observed within their survey that, for the short term, there may continue to be new trades for the buying assets and real-estate companies by investment funds, the two domestic and foreign, particularly by real estate subsidiaries of financial organizations.

As documented in El Mundo, in January of this year, there have been 174,463 real-estate companies, which happens to be close to 750 businesses fewer than in the last year. Apart from the effectively dissolved companies, many organisations tend to be inactive, as well as in a position of bankruptcy proceedings or liquidation.

The review signifies that about 70% of the real-estate agencies registered in Spain happen to be in the regions of Catalonia, Madrid, Andalusia and Valencia, as well as illustrates the advancement produced by financial subsidiary corporations, that in June this year had a property stock portfolio valued at around 40,000 million euros.