The average price of homes rose by four per cent in the past 12 months, less than Spain's 4.6 per cent inflation rate, the housing ministry said.
In a sign that the world financial crisis is starting to bite in continental Europe, rising interest rates have reduced Spanish spending power after 12 years of economic expansion, immigration and declining unemployment that had spurred a boom in real estate investment.
Monday, April 21, 2008
Thursday, April 17, 2008
Spain offers good value property
According to Mr Walker, the cost of purchasing and maintaining a property in Spain has "never been lower".
He commented: "There have been falls of around 20 per cent and in the last six months it has switched to be a buyer's market."
This could be of interest to people who are not necessarily looking for investment properties, such as those who are planning to retire to Spain.
He commented: "There have been falls of around 20 per cent and in the last six months it has switched to be a buyer's market."
This could be of interest to people who are not necessarily looking for investment properties, such as those who are planning to retire to Spain.
Monday, April 14, 2008
Spain markets hurting, but SIMA still draws international crowd
SIMA closed Saturday with attendance down only slightly from 2007. Although final figures are not yet available, show officials said the number of visitors looking for deals on the show floor was about 150,000, compared to 160,000 for last year’s edition of the world’s largest property show.
he figures were welcome good news for event organizers, after the number of exhibitors fell to 600 from 800 in 2007, primarily due to the problems in Spain. Exhibition director Eloy Bohúa acknowledged “expectations were low,” considering the uncertainty of property markets around the country.
he figures were welcome good news for event organizers, after the number of exhibitors fell to 600 from 800 in 2007, primarily due to the problems in Spain. Exhibition director Eloy Bohúa acknowledged “expectations were low,” considering the uncertainty of property markets around the country.
Friday, April 11, 2008
International Real Estate - Madrid Real Estate Exhibition
The tenth edition of the International Madrid Real Estate Exhibition, to be celebrated from April 8th to April 12th, 2008, will reflect its definitive consolidation as the ultimate global business center. This year, besides Latin American exhibitors, other companies have confirmed their participation, such as those from the Far East [Vietnam, Filipinas, Thailand, Malaysia o Singapore], -which represent a 7% of the international exhibitors-, and from countries with a huge increment of their residential markets [China, United Arab Emirates or South Africa].
Foreign company participation has increased up to 60% compared to the last edition, and this year, 202 companies will participate in this area. Also, 64% of those international companies are from Latin America, and the most outstanding participation growth is from Eastern Europe companies, mainly from Poland, Romania and Hungary, which represent the 10% of the total.
Foreign company participation has increased up to 60% compared to the last edition, and this year, 202 companies will participate in this area. Also, 64% of those international companies are from Latin America, and the most outstanding participation growth is from Eastern Europe companies, mainly from Poland, Romania and Hungary, which represent the 10% of the total.
Saturday, April 5, 2008
Spanish Property Auction
April 4 (Bloomberg) -- Thanks to Spain's slumping property market, house buyers are as popular as movie stars and they can cause even more excitement.
Reporters outnumbered bidders as lot No. 1 hit the slate in Europe's first ``Dutch auction'' for real estate last weekend in Madrid. Of 216 lots, 194 were withdrawn when they weren't purchased at the reserve price. One man, investor Manuel Sainz, bought almost half of everything sold.
``Next stop Hollywood!'' laughed Sainz, head of property company Las Terrazas de San Blas SA, as he fought off the press after buying 10 properties at discounts of as much as 30 percent.
Reporters outnumbered bidders as lot No. 1 hit the slate in Europe's first ``Dutch auction'' for real estate last weekend in Madrid. Of 216 lots, 194 were withdrawn when they weren't purchased at the reserve price. One man, investor Manuel Sainz, bought almost half of everything sold.
``Next stop Hollywood!'' laughed Sainz, head of property company Las Terrazas de San Blas SA, as he fought off the press after buying 10 properties at discounts of as much as 30 percent.
Tuesday, April 1, 2008
Selective property investment could find value in Spain
A report in the Telegraph suggested that even in areas of southern Spain, a region that has been subject to high levels of development, there are still investment opportunities that offer real rewards.
Local market expert Sean Collins said that investors who are selective about their purchases could find "great value" in Spain.
The Pure International managing director explained that "opportunistic" investors could take advantage of properties on the market in Costa del Sol, where there is established and reliable infrastructure, financing and rental pools.
Local market expert Sean Collins said that investors who are selective about their purchases could find "great value" in Spain.
The Pure International managing director explained that "opportunistic" investors could take advantage of properties on the market in Costa del Sol, where there is established and reliable infrastructure, financing and rental pools.
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