A parallel market: the land production and the immobiliary promotion in Oviedo, 1994-2002

Abstract

In the last two years housing has become a commonplace in politics and media as the result of the rising of its price, which is ten times bigger than the IPC. General explanation points to plots as the major reason and liberating land as its solution. In Oviedo, nevertheless, the amount of land available is high, promoters plentiful, skirts are built as much as downtown and annual offer is about 3000 houses. The context is a slow growing population with plenty of shelter to choose. Is the housing market a black market in where prices are agreed? Is the solvent part of demand pushing up prices? Housing has become an investment due to lack of other incentives in private saving? Or, at last, is this the reflect of a drifting postindustrial society?