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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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In Spain, the prices of real estate, reached its bottom until late this year

In Spain, the prices of real estate, reached its bottom until late this year

Fitch agency specialists suggest that the recovery of the Spanish economy and the reduction of unemployment in the long term have a major impact on the price of the property, however, they never will be minimal, at least until the end of this year.

In his message, experts say that the real estate market, as before, there are too many provided for the sale of housing, which in turn illustrates the weak demand and falling purchasing power, weak loans because of high unemployment.

In accordance with the document prepared by experts Fitch, if we compare the data with the pre-crisis 2007 level of mortgage lending fell by 80%. However, the amount of new loans in March to purchase real estate increased by 2% in the comparison with the figures for last year. This was the first rise in four years. Fitch experts argue that the time to reach the lowest price mark housing costs will be reduced by 40% in comparison with high pre-crisis indicators.

In his message, they stress that the rate of housing in those European countries that have suffered the most, begin their recovery, however, it is a different pace. For example, in Ireland, real estate prices have reached their lowest point, and in Portugal, they have begun to stabilize, however, still remain weak. In its turn, in Italy and Greece, the market economy which had such a close relationship with the real estate sector, the cost of housing is still declining, however, notice some changes in the economic recovery.

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Property prices in Spain could climb sharply

Property prices in Spain

If the direction of the revival of the economy in the country continues, and the area of ​​employment and economic growth stabilized, the average price for a property in Spain rises quickly, and this rate will remain so for several years. This view is held by the head of the Economic Research Institute (IEE) Jose Luis Feytiat.

In his words, the further rise of these indicators will be more modest – a little more than the consumer price index (IPC). Accordingly projected to remain at less than 2% for several years.

Feytiat expressed his opinion at the conference, which is timed to the real estate exhibition SIMA in Madidi. He presented the study “The value of real estate sector in the Spanish economy.”

Chapter IEE suggests that in the short term real estate prices will be established in 2014. During the crisis fell by 30-40% in nominal terms. “And that would be no one talked about the fact that property prices have to fall another 15% – it is established later this year,” – added Feytiat.

About the size of proposals, in 2014 and in the next they will be dramatically reduced. In addition, the improvement in the economic development will be the launching pad for a sector recovery. “Poor is already behind us,” – said the expert.

Feytiat pointed out that the implementation of this forecast in life is necessary to continue the economic recovery of the country.

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In Spain, for the month of March was purchased more than 27 thousand residential property

In Spain, for the month of March was purchased more than 27 thousand residential property

This year, with the month of March were up 22.8 % of the transaction under the purchase and sale of real estate in Spain, when compared to the same period last year. According to the National Institute of Statistics , this figure is very different from the February figures , when the number of transactions decreased by 27.6%.

However, experts say INE that could have an undoubted impact Easter Week , this year it fell on the month of April , and in 2013 – in March , in connection with the implementation of a full analysis will not work , so experts advise to wait for the April data.

The average annual growth in the number of transactions in residential real estate in Spain was largely defined the secondary increase in sales ( 15,716 operations) , however, the degree of sales of apartments in new buildings increased by 8.7 % – up to 11,331 objects.

If we consider the reflection in average , the number of sales transactions in March increased by 5.2 % when compared with the February data , and this increase was most notable in that month since 2010. Statistics INE shows trades executed within the months , however , certain notarial acts in reality are somewhat earlier . In this regard, the data of January and February 2013, which were much higher than the average , as a result reflected the prisoners at the end of 2012 transactions . This year for the first three months of the degree of sales transactions of residential property in Spain fell by 14.4% .

In March, a significant number of operations on purchase and sale of 100 000 inhabitants of the population was carried out in the Balearic Islands -113 . Andalusia still retains a leading position in the total number of operations -5715 . Behind it stands -3944 Catalonia , Madrid and Valencia -3941 -3529 . If we consider the percentage increase of the visible one was held on the Balearics -71% in Catalonia -42.8 % -41.7 % and Extremadura . Thus, the most noticeable decline was found in Rioja -53% , -12.5 % Aragon and Galicia -9.3 %.

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Buying property in Spain is a profitable investment

Buying property in Spain is a profitable investment

For many Russians, the question arises – what is most profitable to buy a house in Spain or rent a property every time when leaving on vacation. Each option has its own advantages , they differ only by the fact that one advantage may be weightier than the dignity of another . Especially that the available price category of property and good credit conditions not only allow you to purchase an apartment in Spain, but also at home in the resort areas .

According to experts of the European market of real estate in coastal areas such as the Costa Blanca and Costa Brava real estate will always be in demand, and will soon begin its annual increase of 10-20%. In other words , today the purchase of an apartment on the Coastal Zone very profitable investment . Here it is very inexpensive at this modern property , as new homes and second homes , and if we take into account forecasts of experts , it can be assumed that in a short period of time the price of property in Spain for many increase as demand for it will grow .

From what we can conclude that buying real estate today , you make a good investment in the future . Undoubtedly, before purchasing a house in Spain must seriously consider all . For those who are in doubt that whether or not to buy real estate , you need to go there to rest and see for yourself already in terms of the future buyer .

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In Spain, the real estate market began to rise along with the economy

In Spain, the real estate market began to rise along with the economy

Director General of the asset management company Drago Capital Javier Catena said portal Idealista, that the real estate market in Spain had the impression that it halt its further decline , in connection with this level of activity started to increase again . However , he rejected the chance to return to pre-crisis levels . ” Spain will not build 500,000 housing units per year, as before ,” – said Catena . In his company’s clients include fund Cerberus and the Pension Fund of Canada.

Catena added that potential foreign investors show great interest in the Spanish real estate sector is due to the fall in prices in recent years. In addition, it is firmly linked to the country’s economy as a whole , so grows along with it .

From the words of the catena , ” 2013 has been divided into two major phases: before and after the summer.” ” In the second half of the largest event in the housing market had surgery Bull, held a” bad ” bank , and commercial real estate – sale shopping center Parque Principado in Asturias , which marked the arrival of institutional investors ” , – said the expert . Earlier this year, this trend continued .

Experts point out that at present many different funds seeking investment opportunities, and on a large scale level, there is an excess of liquidity. Their owners are interested in countries where there is a change of the economic cycle . “It is normal that in such circumstances they consider Spain ” – said Catena .

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Experts believe that the prices for Spanish property, reach the bottom in 2015

Experts believe that the prices for Spanish property, reach the bottom in 2015

International rating agency Fitch suggests that property prices in Spain reached its lowest level in 2015. During the period of crisis, they fell by 40 % when compared with the maximum pre-crisis indicators . In his report on the situation in the mortgage market in Spain Fitch experts indicate that this drop is caused by excess of supply , as well as active sales by financial institutions and the ” bad bank” .

Experts remind that , according to the National Statistics Institute (INE), the prices of apartments in Spain in the fourth quarter of 2013 fell by 1.3 %, which contrasts sharply with an increase of 0.7 % in the third quarter . In addition, experts rely on statements by the Ministry of Development , according to him , housing prices in the fourth quarter decreased by 30.2% when compared with the maximum historical levels . These figures were lower than the data INE (-37%) and valuation company Tinsa (-38,5%), as well as directly to the agency itself Fitch (-37%).

The agency suggests that , despite the deceleration of falling prices , the positive facts of this process will be regulated by excess supply and the lack of trust. However, experts Fitch reminded that the growing interest of foreign investors in Spanish property increases.

Just experts recalled that the process backlogs Spanish families is very slow, and for the near future this trend will continue . In Fitch explain this duration of payments ( 26 years) and low rates. So , this process will largely depend on the recovery of income , which before 2015 should not wait.

Fitch representatives argue that the rate of unemployment reaches its maximum limit. This year it will drop to 25.5% , and the next – to 24.5 %. The experts also drew attention to the reduction of wages in the anti-crisis policy in Spain. They also mentioned a smaller percentage of workers with an employment contract of indefinite duration . These factors also put additional pressure on the owners and their ability to repay the mortgage , summarizes Fitch.

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