Spanish urban development was centered on land speculation

October 14, 2010 at 11:35 am Leave a comment

This is Beatriz Corredor’s statement, the Minister of Housing and Urban Planning. The real estate bubble affected the urban development and created an oversized property sector.

As apparently crisis spells opportunity, the Minister admitted in Medellin that the best things that could have happened in Spain after the economic crisis was that it allowed the rethinking the urban model.

urban development needs to be responsible

A piece of advice 🙂

She attended the 7th Ibero-American Biennal of Architecture and Urbanism in Colombia and qualified some things about the urban development that has taken place during the real estate bubble. She says “the urban development, altough it had created many jobs, was focused on extensive construction in the speculative sale of land.”

Well, that’s what a bubble is all about, filling it irrationally until it pops. And as one character said in the Wall Street sequel, the bubble burst cleans all the excess. That’s why the Minister said that measures are taken to create a responsible residential sector, because it occupies an important part of Spain’s economy.

We think it’s time to get back to basics. That’s what this message is all about. Any thoughts?

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Entry filed under: Housing, Kinos, News, Real estate. Tags: , , , , , , , .

The prices of apartments hit rock bottom Influences in the process of buying real estate

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