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Property in Spain has fallen to 2003 levels

Property in Spain has fallen to 2003 levels

Starting this year is no different from the previous ones , property prices in Spain still falling, but the pace has slowed. This statement was made appraisal company Tinsa.

According to her, in March, the rate of decline slowed somewhat – cheaper housing by 5.5 % compared with the same period last year, while in February, the figure was 7.6 %. In this connection, the real estate price set at the level of March 2003. Since reaching a peak in December 2007, prices fell by 39.7 %.

One of the most noticeable drop in average annual terms was on the Mediterranean coast – by 11.9 %. Beyond that Udut capitals and major cities (5.8%) , Borough ( 4.7 %), other municipalities (4.1%) , the Balearic and Canary Islands ( 2.6%).

Tinsa analysts point out that the situation in the real estate market has changed dramatically with the arrival of foreign investors. Specialists make a prediction that this year the volume of investment sales grow by 60 %, to 4 billion euros. As well , experts note that foreigners will need local partners , in connection with the domestic investors will still play a significant role in the market .

It is worth noting that, in the housing market entry of foreign capital will not have much impact : foreign investors note that this sector has huge potential , but difficult to manage such assets , and the level of profitability is extremely low . Tinsa representatives believe that the lack of funding has ceased to be a major obstacle to investment. Now those largely considered differences in the expectations of buyers and sellers .

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Fall of the ruble negative impact on buying property in Spain

Fall of the ruble negative impact on buying property in Spain

Specialists who work with Russian clients in the real estate sector of Spain , pay attention to the fact that the number of transactions decreased markedly , and the reason for it fall in the ruble and the situation in Ukraine.

Customers from Russia in 2013 were among the leaders in buying Spanish property and took third place in the rankings after the British and French .

According to the portal Idealista, Russian investors purchased nearly 3000 properties in Spain, it is about 8.6% of the total number of transactions committed by foreigners . The average Russian , who is a client of a real estate agency , has high purchasing power and is interested in buying a house on the Costa Brava and Costa Blanca, the newspaper writes .

Ruble depreciation negatively affects the amount of Russian investors who come to Spain. Since the beginning of this year, the euro has risen by almost 12.7%. To some extent, this decline of the ruble caused Crimean crisis : in those days, the euro rose nearly 4% , in other to date this indicator has returned to pre-crisis level .

“We have a negative effect all that is happening in Russia . The main problem is the devaluation of the ruble. We noted that because of this, some interested customers stopped their search ,” – said Gifre Omedes Amat, head of department on work with Russian clients company Amat Immobiliaris. According to him , falling ruble slows the pace of purchases , “Customers more time decide to buy a property in Spain . Though they attend their interesting objects, but at the same time believe that now is not the best time to buy ,” – says Omedes Amat .

However , there are some Russian clients who on the contrary, put the problem as soon as possible to buy a property in Spain during the political instability in the country.

” Another negative aspect lies in the need to obtain visas. They rise in price, so customers postpone the trip,” – says Omedes .

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Pluses when buying property in Spain

Pluses when buying property in Spain

Decide to buy property in Spain today is no easy task . Even despite the fact that prices are significantly reduced , the economic situation has finally stabilized. Currently Spanish property market offers tremendous opportunities for investors , but buyers want to be sure of your choice . The newspaper El Mundo using experts tried to find out all the “pros ” that you can get when buying a property in Spain.
One of the advantages of reasonable prices
Average price of property in Spain during the crisis fell by more than 30 % , and in some regions of the country , this figure reaches 60%. This is one of the most compelling reasons to purchase housing. ” Some of the items that are for sale at well below market price ,” – said Julio Gil , partner and director of Horizone Consulting Inmobiliario. From the perspective of Jose Garcia – Montalvo , Professor of Economics at the University Pompeu Fabra , ” significant decline ” significantly reduced the risk of investing . According to him, customers as soon as possible to decide on the purchase.

” Today, every buyer has a huge selection of property for your taste. On sale are offered a wide variety of asset types in different areas and at different prices ,” – said Gil . ” Today would not be hard to find a house in Spain, which will meet different customer requirements ,” – said García- Montalvo .

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In Spain, the “bad bank” finish building three thousand houses

In Spain, the

As the president of the Spanish ” bad bank” (Sareb) Belen Romana , this year the organization was sent to 100 million euros for it to complete the construction of three thousand residential properties , including focus their activities in the medium term for the further development of the rental market.

How to write Spanish news agencies , the “bad ” bank in the future is going in large volumes to develop their activities and become ” one of the five largest operators in the market,” to increase their sales figures from 25 to 30 completed projects in the day.

The bank president explained that the amount of profit earned by the “bad” bank, is somewhat limited . The reason is that the transfer of assets already held at discounted prices in 2013 . However , she drew attention to the fact that the organization does not intend to deviate from its target, and not to impose the cost of assistance to the banking sector by taxpayers. ” This is the main reason that led the bank to develop a more popular business model. It will make more money from the assets held by us on the balance sheet , and a nice profit at the time of sale,” – added the head Sareb.

After summing up the first year of the ” bad bank” Roman explained that for this year , an analysis of its portfolio . According to his testimony revealed that belong Sareb 107 thousand houses , and another 215 thousand figure as guarantees on mortgage loans transferred to other banks .

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The main reason for buying a property in Barcelona

The main reason for buying a property in Barcelona

Over the past years there has been a noticeable drop in real estate prices in Spain. There was even a time when this drop caused panic among investors and outflows from the country. To date, there are many reasons for that would invest their money in real estate assets of Barcelona, ​​this declares partner Cat Real Estate Nacho Castel .

One of them is that Barcelona will soon strengthen its position in the top ten global destinations that are listed in the ranking of Global Destination Cities Index 2013 .

Every year in Spain is increasing influx of tourists , and many of them aim to not only stay in this country , but also rely on the attachment of their resources on real estate assets . This practice in the future will only grow with the new law, which implies a residence permit when purchasing a property worth 500 thousand euros.

From the words of Castel , every week his company receives about five requests from foreign customers who want to buy a property in Barcelona. Such investors are turning from around the world , but the majority are citizens of China, Russia and South American countries.

If we consider Barcelona from a strategic point of view , it is very well , it’s almost a gateway to Europe . Here is a very well-developed transport infrastructure, through the airport it takes about 35 million people, and the seaport is one of the largest in Europe.

Lack of land makes it possible to not be further expanded Barcelona city from all sides to limit the mountains, sea , rivers , so in the absence of land for construction , real estate prices will continue to grow.

Well , of course , Barcelona offers prospective home buyers the best quality of life, and it is not unimportant one of the reasons why many tend to invest it in local assets . The mild climate of the city and its beaches clean for often a major factor in the purchase of real estate buyers from countries with lower temperatures and lack of sunshine .

Castel assured that soon in Barcelona will a significant rise in property prices. It can not be a one-off , but will increase the value of assets in any case , the expert quoted portal Idealista.

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Cheap Property in Madrid

Cheap Property in Madrid

Properties in the neighborhood of San Cristobal de los Angeles , located in the district of Villaverde in the south of Madrid, is one of the budget in the capital. According to El Mundo, buy an apartment without repair in the house where you can not lift 20 thousand euros and even cheaper .

” We sold the 60-meter two-bedroom apartment for 16,000 euros ,” – said Edwin Samaniego working in this area for the franchise agency Tecnocasa. His firm is the only one in the area, which is responsible for real estate , and other realty office left the area by virtue of social situation .

At the beginning of this working-class district was created by Spanish immigrants , they came to Madrid to work from Andalusia and Extremadura , as well as people affected by urban operations 50s . Today in San Cristobal de los Angeles is the largest number of foreign immigrants . Just live here many Roma families .

Real estate is a very poor quality, and it was built on unstable ground ,” – says Samaniego . City Hall is aware of this issue and restoration of buildings in this area is one of the main tasks . However , the social component is the decisive factor . “Low prices attract the attention of potential buyers as long as they do not come and did not walk around the area ,” – said Samaniego .

He also notes that the high demand evident from immigrants and investors on those apartments that can be purchased under the lease. For example, a property that is worth 16,000 euros can later pass for 300-350 euros. However, this area still has positive characteristics such as good transport links and infrastructure.

Samaniego assures to that property prices will no longer decline as ” owners can not lower the bar by virtue of the taxes they must pay .”

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Rent property once again gaining momentum in Spaine

Rent Spanish property is once again gaining momentum

Rent apartments and tourist estate on the Costa Dorada today is regaining its popularity as a form of operations , especially with regard to properties in central areas of Spanish cities . According to the company Alquiler Seguro, the last ten years the tenants prefer to rent an apartment in small towns in mind the high price , but now they come back to the center.

Commercial Director David Carballo said that ” a large number of tenants , who once had to leave the suburbs because of not able to pay rent too expensive , again opts for the city.”

“With the growth of the rental market and falling prices can be observed changing trends. Currently most such sales are accounted for by large cities, rather than the periphery ,” – said Carballo. According to him, more than 70% of the real estate lease transactions is in capitals. In Madrid, Barcelona , Seville and Valencia are the most popular apartments with 2-3 bedrooms and studios and apartments with 1 or 4 bedroom apartments enjoy the lowest demand. Experts say that to rent an apartment or partment on the coast , today it would take about 30 days.

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Selling real estate in Alicante increase due to the development of air links with St. Petersburg.

Selling real estate in Alicante increase due to the development of air links with St. Petersburg.

Local authorities in the province of Alicante are going to attract to their region more tourists from Russia. Payment goes to increase flights from St. Petersburg , as well many of those who come from the northern capital for that would relax in the future may become potential buyers of holiday homes .

Local realtors are hoping that tourists will attract local beauty , and be pleasantly surprised by the affordability of real estate on the beach, which fell significantly during the crisis. Apartments on the coast of Alicante can be much cheaper than the same area , but in St. Petersburg. The difference in the amount of vacationers should touch up on the idea of ​​a bargain purchase , experts say .

To date, approximately two-thirds of property who acquire Russians in Spain , located in the province of Alicante, diary reports Información. Commissioner for Tourism Joaquin Albaladeho , is currently in Moscow on the occasion of the tourism exhibition MITT, and met with the Consul Miguel Baus . Consul said that six of notarial deeds of sale of real estate, which are processed at the consulate , four associated with objects in the province of Alicante.

Following the meeting Albaladeho told that the consul , ” praised the level of interest of Russians to the Costa Blanca .” He also drew attention to the fact that after participating in the exhibition MITT information about this region will appear in all the tourist brochures. Two years ago, such information has not been published . “We aim to introduce the leading tour operators in our hotel and tourism infrastructure ,” – said Albaladeho .

Affecting the impact of the crisis on the Russian Crimean tourism commissioner referred to the words of the consul that ” the issuance of visas is carried out in normal mode ” and ” reducing their number has not been noticed .” Albaladeho suggests that the number of tourists on the Costa Blanca has to grow significantly due to the increased number of flights from Moscow and St. Petersburg to Alicante.

Last year in Moscow has issued more than 1 million Spanish visas, while in 2012 the figure was 877 thousand Consul noted that due to increased demand in the past year, the number of visa centers was increased three-fold.

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Residence and immigration in Spain is possible

Residence and immigration in Spain is possible

Spain – very comfortable, has excellent views, and sufficiently well- country . The inhabitants of this country , though by nature a very expressive and noisy , but it is very responsive and good-natured people . Actually that’s why relocation to Spain for permanent residence for citizens of Russia – quite favorable outlook , opening the door to a new life , offering an abundance of opportunities and chances .
Spanish immigration has always existed in two forms – both legal and illegal . But the government of the Spanish State strongly tightened policy and the legalization of immigrants obtaining a residence permit , and now get a permit in this state , maybe just a few ways. Should be noted that even with the available own property in the Spanish kingdom, it does not give the right of permanent residence of foreigners in Spain.
If there have properly executed documents and the lack of a criminal record , the immigration to Spain is possible as the following:
1. Working immigration . This feature means your immigration stay in the Spanish kingdom in the form of a private businessman and as a civilian worker. To be able to obtain the permission to stay in the country, it is necessary to have a contract , an invitation that not only certified by the employer of the Spanish state , but has been certified by the Spanish Ministry of Labour and Immigration. Or have a confirmation that you have available in your own , constantly functioning and stable yielding profit business within the territory of the Spanish kingdom. For reasons of economic security in times of crisis , residency permit with the right to work issue became much less , due to rising unemployment and falling economic indicators. But at the moment in Spain produce a new law on the introduction into practice the newly-made “blue” card, which allows professionals to fully qualified , having come from countries that are not members of the European Union , to fill vacancies around 100,000 each year.
2 . Residence permit , without the right to work. Stayed for a special visa , which does not give the right to hold employment places have the opportunity provided by the person who are available sufficient funds for a poverty – guaranteed residence in the Spanish kingdom. Residence permit , without the right to work, are able to obtain only those applicants who have a stable monetary income outside the Kingdom of Spain and the availability of own immovable objects on its territory.
3 . Family immigration (family reunification ) . This form assumes that immigration makes the call invitation party domiciled in Spain for a period of not less than 5 years , must provide proof that it is able to sustain the provision of invitees , without recourse to the Spanish social structures . Immigration for family reunification can claim are legally married spouse, children under the age of 18 years and parents of the retirement age.
4 . Spanish immigration training . To get a Spanish residence permit for educational visa , the applicant shall provide properly executed documents showing that the person is enrolled and officially enrolled in any of the educational institutions of the Kingdom of Spain , plus documents on payment of study . Since the visa does not allow working in Spain, is also a necessary confirmation of source of steady income for poverty-free stay in the country , with the addition of the rental residence or owning property in the country. Visa is of two kinds : class C ( giving the right to study for up to three months) and D ( student residence entitling the holder to stay study period more than 3 months and updated as needed ) .
5 . Residence permit due to unexpected circumstances . At the moment, to get this type of residence permit in Spain , you must pass a series of strict procedures and checks. De facto, this is the most difficult type of immigration. Since you must have documentary evidence that the person is saved from political persecution , because of xenophobia or racial discrimination , or in other similar circumstances. Even with a positive response , it is still within 3 years , every year , you will have to prove again that the situation with regards to this subject remains unchanged and he was in danger . Only after this three – year period , it will be possible to obtain a residence permit for a longer time .

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Investor interest in Spanish property increases

Investor interest in Spanish property increases

Positive market reaction that followed the release of the exchange of two Spanish companies , both of these companies are engaged in property investment , which confirms the interest in this sector . This is evidenced by The Wall Street Journal, the publication has estimated that about 15 investment companies engaged in real estate have already registered with the tax authorities in Spain.

From IPO firm Hispania Activos Inmobiliarios, whose shareholders are George Soros and John Paulson , have attracted 500 million euros . A little earlier the company Lar España Real Estate has received in the same way 400 million euros.

Experts confirm the great interest in the real estate market in Spain. ” In Spain come significant amount ,” – says Rupert Lee , a partner at Cushman & Wakefield Spain. The Wall Street Journal said that in 2013 the volume of investments in commercial real estate in Spain amounted to 5.2 billion euros , which is twice more than the year before . Over 70 % of these funds are coming into the country from abroad , mainly the U.S..

However, experts say that the “economic anemia ” raises doubts about the possible impact that is expected by investors . For example, if the company is not in Spain will create jobs, and increase the level of consumption, it will not grow and rental prices . Just to criticism and the fact that companies that operate in Ireland and Spain , operated by independent firms and does not have its own structure and staff. This entails a considerable expense and may cause a conflict of interest .

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