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Spanish property market will soon recover

Spanish property market will soon recover

For the calculation of the bank BBVA, the demand and need in the field of investment in residential property in Spain in the near future will survive the change of direction. It is expected that in 2014 come to pass in the section reserved adjustment of investment in housing, and in 2015 a resurgence of the market with the expansion of deposits by 4.9% and an increase in the number of new residential units.

A few days later the Bank of Spain has notified that stops falling real estate market. Specialists have found that the need still remains low, however, still gradually restored. In his speech on the situation in the country in the third quarter of this year authorized BBVA bank indicate that the renewal requirements will enhance the sales of property and will increase the number of new buildings in 2015.

“Rehabilitation of confidence, dynamism and education jobs, together with the positive activity in the field of purchase and sale of property of citizens of other countries, including low funding, perfectly reflected in the sale of real estate, their level by the end of this year may be several times higher than the figures of 2013. On the proposals, the market today is in a different state. However, most of the reductions already passed, “- according to experts. According to them, in areas such as Alicante, Barcelona and Madrid for several months noticeable positive setting for licenses of new housing construction.

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New property in Spain starts actively buying

New property in Spain

Citizens of certain regions of Spain began to actively acquire new housing, this informs the portal Idealista. Resale prices fell by much more than the buildings in this regard to its share fell 57% from 310,864 sold in the last year of objects. Such an increase is noticeable in all the autonomous regions have made an exception only – Galicia, Murcia and the Canary Islands, their citizens in the 12 months to buy more new housing than the secondary.

As already mentioned, in the second quarter of this year were sold 310,864 of the property, of which 43% and that is the 135,711 apartments were in the buildings, and the remaining 57% – a secondary market (175 153). According to the Board of Registrars of Spain, the market of new housing average minimum set another record. It is assumed that such a facility has not lost in the coming months.

However, in Galicia, the Canary Islands and Murcia develops a completely different situation: in these regions was realizovano7 018, 9057 – 5038 new houses and it is 60%, 55% and 51% of the total.

From which it follows that, in the 14 autonomous communities the number of contracts of sale of second homes has exceeded the number of transactions with the new real estate. In annualized basis leaders scale implementation stali- Andalucia (62,293 objects), Catalonia (46,798), Valencia (46 313) and Madrid (44,468).

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Property in Spain begins to rise in price

Property in Spain begins to rise in price

Researchers in Spain have started to talk about the fact that it is time to end the crisis in the real estate market. Authorized the Board of Registrars property emphasize that in the second quarter of this year, the price of apartments in Spain rose to 0.97% if we compare it with the similar period of last year. At the request of the portal Idealista, this average annual rise was the first since the beginning of the collapse of the Spanish property market.

To draw an analogy with the previous quarter, the value of property has also increased – by 1.53. To date, she found, somewhere on the 2003 level. At the same time, the number of transactions of purchase and sale of property in the country has declined in the second quarter to 5.49% compared with the previous quarter – up to 78,464 transactions. The basis for this transaction were the new estate, the amount of which is the average for each month has decreased by 18.89% – to the lowest historical level of 30 605 operations – this is 39.01% of the total. However, second homes, by contrast, was much more popular – the number of transactions rose by 5.67% -up 47,859, 60.99% of the total. The share of social housing fell about 3.24% of operations.

Andalusia ranks first in the number of transactions of purchase and sale of real estate (15 583). Second place goes to Catalonia (11,980), Valencia (11 591) and Madrid (10 522).

Foreign interest in the property in Spain is still growing: for example, in the second quarter of their number fell 13.03% of transactions from the total number of operations, and these data have become a new historical record. The leaders are traditionally British (15.77% of transactions). After them come the French (10.11%), Russians (8.08%), Germans (7.53%), Belgians (7.26%) and Swedes (5.93%).

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In Spain, on the Costa del Sol property will be cheaper

In Spain, on the Costa del Sol property will be cheaper

According to experts of Aguirre Newman, property prices on the Costa del Sol and will sink down this year and next, there is a decline due to excess supply and little demand. According to the information portal Idealista, in its report experts explain that changes in economic conditions and lightweight approach to financing beneficial impact on the volume of sales transactions. Foreign citizens, as before, the real estate market are attractive, and 90% of transactions conducted with their participation were made without additional funding.

The creators of the “Report on the residential property market on the Costa del Sol – 2014″ indicate that domestic demand is frozen due to the difficult economic situation, it’s unemployment and lack of funding, however, foreign buyers still find a variety of opportunities for investments in the real estate market in Spain. Experts believe that up to 90% of transactions which involve foreign clients are made without the involvement of bank loans. The situation with local buyers quite the opposite, it would acquire single family housing, funding for them is necessary in 75% of cases, and in order to buy a multi-family apartment – in 85% of cases.

Banks, financial institutions and the “bad” bank (Sareb) are considered to be major players in the Spanish property market – both in terms of housing sales directly to individuals, and in the acquisition of large portfolios of investors. Regarding the new housing, the success in this area will be more than modest and aimed at specific market niches. In addition, the last climb of the rental market. Increased demand will be visible from the youth who had reached the age to move further out from the parents, and due to various economic reasons can not have their own housing.

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Property in Spain is one of the cheapest in Europe

Property in Spain is one of the cheapest in Europe

Property in Spain is considered today one of the cheapest in Europe, says El Mundo, based on the results of studies that have been made ​​by the experts of the portal Casaktua.com.

In accordance with the statistics of the Ministry of Development of Spain, in the quarter of this year, the country’s price category per square meter of housing was 1,459 euros. With this value of a simple 90-meter apartment, which will be three bedrooms worth 131,310 euros.

According to the results of the Italian leadership in the Apennine peninsula square meter for a standard apartment buyer will rise in price of about 2,119 euros, in other words, for an apartment of the same size here zaplatyat- 190,710 euros. In France, according data agency Immoprix, apartments with the same dimensions worth 202.500 euros, and it is at 71.190 € more than in Spain, for a residential meter paid 2.250 €.

Not difficult to calculate that foreign nationals who wish to buy a holiday home in Europe, much more profitable to do it in Spain, as in the Apennines will need to shell out 45% more money, and in France – 54%.

With respect to property in the UK, there is the cost per square meter high and stable. Official data of London show that over the past year the cost of housing an average was higher by 9.9%, while the average price of a simple model of the apartment is 260.000 pounds (324.190 €).

In general, prices for real estate in Europe in the last quarter of 2013 declined when compared to the same period in 2012 by 1.4%, while in the European Union – by 0.1%.

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A new form of tenure in Catalonia

A new form of tenure in Catalonia

The Executive Board of the Catalan government approved amendments to the Civil Code, suggesting the formation of the latest model of tenure. According to the news agencies of the country, talking about the form of temporary and joint ownership.

This legal system was made individually for the real estate sector, however, it can be used in the examination and to movable property, if the purchase is accompanied by the introduction in any register.

As stated by the Spanish authorities, the proposal may be the settlement of the problem of over-indebted, which refers to the purchase of real estate, and emerged in the last 20 years. A government spokesman Francesc Homs Catalonia drew attention to the fact that that this form of “mainly adapted to today’s problems in the field of access to the housing market.” Thus, local residents continue to have the opportunity to buy properties at a lower cost, because the application of the new model will allow to reduce the size of many displaced costs.

Period of time the property can reach 6 to 99 years. After his term ends property will pass to the former owner or his heirs.

If the property is framed as a joint, then the buyer will need to pay the initial quota and throughout the rest of the time to pay the seller the amount of at least 10% of the total cost. Initial deposit is decided by both sides, and the buyer in this case almost all the rights of the owner.

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Property prices in Spain in 2014 will slow its decline

Property prices in Spain in 2014 will slow its decline

The rate of decline in apartment prices in Spain again this year to suspend predicts appraisal company Tinsa. In May, they were reduced by 4%, and by the end of this year already, this process can completely stop. By analogy with the time when the country has lived without a crisis, real estate prices dropped by 40%. These data were read in the report “The situation in the housing market in Spain and its prospects.”

However, the authors of this report did not mention the fact that whether or not to begin a general price increase in 2015. As explained by CEO Tinsa Inigo Valenzuela, “reactivation phase of real estate sector is not far off” at the same time, he has not yet “fully recovered”: at the present time in Spain, including 400 thousand salable and sold real estate. Over time, their number will gradually decrease, at the same time, homes that are on the second and third lines of the coast, will not be sold until at least 2017.
The transition time will be determined by the stability of the labor market, the rise of interest of foreign investors, caused by falling prices (on the coasts, they fell by 50% when compared with the maximum data), including the strengthening of the financial system, which should eventually lead to an increase in the flow of credit . All these factors will help increase the amount of sales transactions by 15-25% in 2014.

However, there are negative factors, such as the terrible working conditions that require short-term contracts to sign and no full-time employment, with a low salary. In contrast, the experts called recovery growth activity in the construction sector. According Tinsa, in 2014 completed 50 thousand houses. Experts suggest that in late 2013 and early 2014 the number of existing objects, finally, it reached its bottom in March and again significantly increased.

Tinsa experts indicate that the information can be confirmed by the second quarter of referral to the stability of prices, however, in the coastal municipalities of the province of Cadiz, Huelva and Tarragona are, as before omitted. In all of this, experts point to the central role of foreign consumers in this market and the arrival of new customers from other countries that have showed no interest – for example, from the Netherlands, the Scandinavian countries, China and the Maghreb.

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In Spain, the plan to restore the vacant real estate sales

In Spain, the plan to restore the vacant real estate sales

Javier Serratosa, vice president of Conexus, working in Valencia and Madrid, recommended resume the sale of real estate is not populated in the above two regions, this news agencies say. Upon submission Serratos, it will give an opportunity to expand the sale of real estate in Spain for citizens living in other countries.

The latest information shows that the fund has, it says about restoring existing home sales and real estate sector in which Valencia is considered a leader, especially the province of Alicante. As suggested by the head of Conexus, should make an analysis of the way and set the available operating 700 000 non-residential properties. The total amount of transactions, which carry foreign nationals in Spain, more than 6 billion euros per year, and the third part of such operations falls to Valencia.

“We have an excellent opportunity for that would create good fortune in Spain, Valencia and Madrid, if we can make active use of vacant real estate sector, as well as by increasing the transactions in which foreigners will participate,” – said Serratosa.

According to the study fund for each object of second homes, which is owned and operated by foreigners as the holiday, brought the average 8380 euros per year, and for each object, which is a permanent place of residence of foreigners – 21,344 euros. The bulk of this cost – almost 80% – falls to the service sector. The remaining 20% is divided between the sectors of industry, energy, construction and agriculture.

Foundation researchers indicate that the main part of the holiday deals when buying property occurs mainly in the Mediterranean and Madrid. And this case as usually confirms “that the territory of these two regions only complement each other,” notes Serratosa. He believes that “the construction sector requires reintroduce value only from a new perspective.”

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In 2016, real estate prices will rise in Spain

In 2016, real estate prices will rise in Spain

Head of the Economic Research Institute (IEE) Jose Luis Feytiat confirmed that since 2016 there is a possibility that may occur a significant rise in property prices in Spain, however it will be caused by the economic situation in the country.

According to the publication Murcia Economía, Feytiat believes that similar dramatic changes in the forecasts for the coming months, probably will initiate the revival of the real estate sector in late 2015 – early 2016.

Expert drew attention to the fact that raising the issue of the price increase until 2016 is not worth it. It really is possible in the case, there will be an inevitable process of economic recovery. If this process is interrupted, the “real estate sector will be lost, and may die with him, and we are,” said the expert.

Assessment Feytiat, this year and in subsequent years assumed a significant drop in the number presented for sale of real estate in Spain. He added that the most difficult step has already been taken, and steady revival will soon become evident. Whatever it is necessary to revive the simultaneous growth of economic indicators. Which can be seen during the heyday of the country, and it is identical to the growth of GDP and employment, which prevails over the level of population growth.

In the present context, recorded more restrained performance when compared with the period of recovery of GDP growth, the cost of housing will not be calculated in double figures.
Just Feytiat noted that soon the labor market will revive strongly – by 1.5% this year and 2% next year.

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Property in Catalonia acquired a new form of ownership

Property in Catalonia acquired a new form of ownership

The Executive Board of the Catalan government adopted amendments to the Civil Code to the organization of new forms of owning real estate. At the request of news agencies in Spain, because they refer to a temporary scheme and joint ownership.

These legal provisions were organized, intends for the property sector, however, they can be applied on and movable property, its purchase is accompanied by fitting into a particular register.

According to representatives there the authorities, the proposal is intended to solve the problems of over-indebtedness, which is associated with the purchase of real estate, and has appeared in the last 20 years. A government spokesman Francesc Homs Catalonia added that a similar model “basically adapted to today’s needs in the area of ​​access to the housing market.” Thus, today the people of the region have the opportunity to buy a property for a lesser amount, due to the fact that the new formula will be used, it will help a lot to reduce the size of the necessary expenses.

Stage time property can last from 6 to 99 years old. For ending it back to the old property owner or his heirs.

If joint ownership, the buyer will need to make the primary quota and gradually make payment to the seller in the amount of at least 10% of the total value of real estate. The required amount of the initial payment will be decided by both parties, and in addition, the acquirer has almost all the powers of the owner.

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