News, page 27

Sueca is a city in the province of Valencia and the capital of the Ribera Baixa region, with a population of just over 28,000 people. In terms of the growth in home prices over the previous year, this city ranks third in the country. In the previous 12 months, the cost of real estate per square metre in this area increased by 16.28%. In the city, prices have been rising consistently over the past six months. According to the most recent report on the valuation of real estate in small towns across the country, based on 25,000 people,...

Currently, many banks have a large amount of real estate in their possession. These are properties that were seized from people who failed to pay mortgage loans that were used to purchase houses; as a result, they are offered for sale under attractive conditions. This should allow banks to quickly return the lost funds. As soon as the bank takes possession of the property, it tries to find interested buyers as soon as possible, offering both discounts on the purchase and various guarantees and conditions. An example is the...

Typically, this is about real estate that was acquired from the original owners as a result of eviction, general insolvency, or late payments on the mortgage loan used to purchase the property. The bank can and will likely offer the house to new clients once it is available since it has to sell the asset as quickly as possible in order to return the funds that the borrower has failed to repay. The key advantage of such housing is that banks are more willing to offer lower prices and various guarantees in order to sell it...

The term “house flipping” came to the international real estate market directly from the United States. It refers to the practice of purchasing real estate for the sole purpose of reselling it for a higher price after a preliminary renovation. So it’s not just about exploiting the market’s fluctuations, but also about adding real value to a current facility. Although all types of real estate can be referred to by this term, the residential sector is where it has gained the most popularity. This is especially true for the Spanish...

Galicia is a promising real estate market, drawing the attention of both investors and wealthy buyers from throughout Spain and from abroad. The following is a short list of the most expensive districts, with the best real estate, in the autonomous community of Galicia. A Coruña: Old City Old Town of A Coruña is the unchanging leader of any rating of the most expensive areas in Galicia. The average price per square metre in this region is higher than 3,040 euros, which is far from affordable for...

The increase in the Euribor (the Euro Interbank Offered Rate) rate has not yet influenced the local real estate markets, including the market in Murcia. The economic performance of the housing market in the Autonomous Community of Murcia shows that it is coping well with the current crisis. Due to a severe lack of available land for new construction and a high demand for new homes, prices are rising and market players’ profits are increasing. According to José Ramón Blázquez, the president of Association of Real Estate Developers of...

It has long been no secret that for the majority of Spaniards, buying real estate is an almost unattainable goal if you strive for it relying on your own strength. Back in August 2022, the Spanish bank BBVA warned that the precarious situation of the young Spanish population prevents them from accumulating sufficient capital to purchase housing, which cuts off a huge number of potential buyers from the market. The bank's study notes that young people move away from their parents at the age of 30, which is about 3 years later than the...

House prices in Spain are growing everywhere, but at different rates, which leads to an increase in the gap between the most expensive and the cheapest regions of the country, according to Caixabank. In the first quarter of 2022, San Sebastian (Gipuzkoa) became the city with the most expensive price of residential real estate in Spain. The square meter of housing in the capital Gipuzkoa exceeded the mark of 4,200 euros, as reported by the data provided by the Ministry of Transport, Mobility and Urban Development. For comparison, one...

The real estate market in Castile and Leone is preparing for a crisis by adjusting the prices of secondary market housing. Most of them are already 30% cheaper than in 2008, at the peak of the «boom» in the sector. The region cools the market before the active phase of crises, so that the fall does not turn out to be fatal. According to the report of the real estate company Idealista, at the national level, Spanish residential real estate is only getting more expensive. Prices have already reached almost 1,900 euros per square meter....

In 2022, the Principality of Andorra is experiencing a real «boom» in the real estate market. The increase in the number of buyers, local and foreign, forces construction companies to launch new projects that attract even more people, including investors, looping the situation. The described trend, which began after the end of the acute phase of COVID-19 in 2021, led to a sharp increase in demand for housing, the creation of a shortage of goods on the market, an extremely active price increase, new construction, a new increase in...