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.