In the past few months, the first signs of a recovery – or at least a bottoming out – of Barcelona’s market have begun to appear. After falling 34.9 per cent from their 2007 peak, prices for city residential property fell only 1 per cent in 2013, according to Idealista.com, Spain’s largest property website.
International buyers are buying more properties in Spain with non residents the driving force behind the increase in foreign demand, according to data from the General Council of Notaires.
Foreigners bought 14,593 homes in Spain in the second quarter of 2013, up 23% compared to the same time last year, the figures based on deeds witnessed by notaries show.
People not living in Spain bought 43% homes in than the same period last year, whilst foreigners resident in Spain only bought 4% more, the data also shows.
New Russian slogan: “Better Spanish real estate than Cypriot currency”
The Russian citizens bet for purchasing homes, mostly luxury on the Costa Brava and bargains on the Costa Daurada.
Despite the crisis, the real estate business in the Costa Brava, Costa Dorada and Barcelona is supported, in part, through the purchase of houses by Russian citizens who decide to purchase a house for summer-and in many cases their permanent residence-in Catalunya. “They are our best customers and we work through them,” notes David Janssen, owner of the estate Barnamar of Salou, adding that the last five sales you’ve made on the Costa Daurada, three have been for Russian customers. Lourdes Vargas, Coast Realty real estate group, acknowledges that in the past six months the agency has generated 6 million euros of purchases from this group. Many of the agencies consulted on the Costa Dorada and Costa Brava Russian Buyer acknowledge that represents 50% or more of its customer base. The shopping boom occurs mainly between March and September, a period regarded as the high season of properties sold.
With so much information readily available online, clients sometimes ask me, “Why should we hire a real estate agent?” They wonder, and rightfully so, if they couldn’t buy or sell a home through the Internet or through regular marketing and advertising channels without representation, without a real estate agent. Some do OK, many don’t. So if you’ve wondered the same thing, here are 10 reasons why you might want to consider hiring a professional real estate agent.
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Home Sales Fell 11.3% in 2012
Despite the announcement that the tax incentives for home purchases were to be scrapped at the end of last year, it did not prevent a further contraction in the housing market, and housing sales declined again in 2012, by 11.3% compared to 2011. Thus, according to the latest data published by the National Statistics Institute, the number of housing transactions marked their second year of negative results after the drop of 17.7% experienced in 2011, which followed the positive results of 2010.
The amount of property sale transactions during the 1st quarter of 2011 was 124,542. This is 33.9% increase —31,539 additional transactions— on the last quarter of 2010.
This data is part of the Land Registry Statistics and the Centre of Statistical Processes of the Land, Mercantile and Chattel Registrars Association of Spain.
The report issued by the Centre of Statistical Processes infers that this increase was caused by the IRPF (Income Tax) modifications to be enforced in 2011.
This could be the cause behind the high amount of sale transactions before the end of 2010, which was registered during the first months of 2011.
In the Region of Valencia alone, 15,356 transactions were registered: 6,653 took place in Alicante province, 6,625 in Valencia and 2,078 in Castellón. The province of Alicante is, in fact, the third province in Spain with the highest amount of registered transactions, only behind Madrid and Barcelona. All three provinces have increased the amount of transactions during the 1st quarter of 2011.
To read the full report, visit the website of the Registrars Association. Go to “Estadística Registral Inmobiliaria primer trimestre 2011”. The report is in Spanish.
- The work may begin this fall and the hotel, a reality in 2013.
- The Bay Hotel Phoenicia have 200 rooms and all the luxuries.
- A group which manages resorts in 23 countries developing.
We identified a luxury 5-star hotel, but as in the sky, more stars. Seven stars in the hotel, ‘resort’ say its advocates, that is to start building this fall in Almuñécar, Granada. Be the first 7-star hotel in Spain.
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Compared with 4.5% coming down on average in the euro area
The January decline is almost double that recorded in December (-22.8%).
It is the largest decline in the last twelve months.
Production in the construction sector in the euro countries fell 4.5% in January over the same month last year, a decline that was led by Spain, down 43.2%. These are data from the EU statistical office, Eurostat, which indicate that the decline of this sector in the first month of the year (-43.2%) almost double that recorded in December (-22.8%) and is the largest the last twelve months.
The increase was observed in up to 29 provinces in total.
According to the College Registrar in 2010 there were 445,885 operations.
Lower the optimism and remember the influence of tax changes in 2010.
The average price of second hand property in Spain stands at 2240 euros per square meter (€ / m2), representing a decrease of 0.6% on the price of January.In February, if you look at the evolution of prices in the last twelve months, the cumulative decline is 5.2%, compared to € 2,362 / m2 was recorded in February 2010 .