Spain should see property investors returning in large numbers after experts said the market there has reached its bottom.
The commercial property market in Spain is attracting an increasing share of the European real estate investment market, it is claimed in a new report.
The commercial property market in Spain is attracting an increasing share of the European real estate investment market, it is claimed in a new report.
Spain shares many of the qualities that are currently attracting investors to the UK commercial real estate market, according to new research released by property consultants CB Richard Ellis.
This marks my second holiday in the Spanish Riviera since 2005. Four years ago, Marbella and neighboring towns were littered with cranes; not anymore.
The last time I visited Marbella the Costa del Sol region was in the throes of a major real estate boom that saw prices extend as far as the eye can see; now the property market has crashed and bargains beckon in Spain.
If you’re looking for an affordable condominium in the Spanish Riviera then now is the time to make a purchase following a 15% to 40% bust since prices peaked in 2006.
According to Banco Bilbao Vizcaya Argentaria there’s about 800,000 to 1.4 million unsold homes scattered across Spain, including Costa del Sol. The bank estimates it’ll take about two years to absorb this supply but I think it’s looking more like three years or more. There isn’t a week that goes by whereby banks aren’t repossessing residential property.
MADRID, June 29 (Reuters) - Spanish real estate company Afirma (AFRA.MC) said on Monday it was in the process of signing agreements with creditor banks to refinance around 1.4 billion euros ($1.96 billion) of debt.
"The chairman told the AGM that the debt refinancing agreement has started to be signed," a spokesman for the company said. (Reporting by Ben Harding; editing by Sarah Morris)
