News, page 52

With a price tag of almost 4,000,000 euros (approx. 3,999,990 euros to be exact), this house was the most expensive home for sale in the city of Vigo. The current owners have reduced the price of the property by 30% (by 1,200,000 euros), and now the mansion costs 2,800,000 euros. This is a unique stone mansion with a stunning view of the Cíes archipelago. It is located in the Mide area on a private beach by the sea, next to the olive gardens of the ancient San Miguel de Oia church. ...

The main question of recent days for wealthy citizens around the world is whether they should rush to invest in European countries in order to have time to get «Golden Visas» while such an opportunity still exists. What is waiting for this investment instrument in general and how will the Spanish government react to it? Many members of the European Parliament have campaigned for the abolition of such a visa regime since 2014 against the background of the events that took place in Ukraine, the annexation of Crimea to Russia...

Despite the fact that Europeans accounted for a small share of the purchasing base of the residential real estate market in Spain, and their number has been steadily declining since 2012, they played a big role in the market of the most expensive and premium real estate. The share of Europeans among foreigners buying housing in Spain was about 2% in 2021. They purchased 1,280 residential properties. In 2012, Europeans bought 3,399 properties. European buyers in the local market were hardly noticeable. They bought...

According to the report of the National Institute of Statistics of Spain (INE), published on Friday, in 2021, average prices for residential real estate increased by 3.7%. INE experts paid special attention to the fact that the prices of new properties that have just entered the market have increased by 4.6%. This is the lowest price increase since 2014. Secondary real estate market prices increased by 3.6%. Market experts believe that the residential real estate sector in Spain is in a fairly balanced, balanced state. There...

The Government of the Canary Islands has announced the allocation of an additional 30,000 euros to help people who lost their main home as a result of a volcanic eruption in Palma. At the same time, an additional 10,000 euros will be allocated as a direct payment from the cabildo («municipal council») in Palma. All this is in addition to the 60,000 euros already paid by the Spanish government. Additional payments are one of the main agreements reached at the meeting of the Joint Commission for the Reconstruction,...

The data show that the needs of Spanish market are numerous, but most of all it lacks housing for the rental market. An acute disadvantage. By 2030, the country needs to create 1.2 million new residential properties to close the supply deficit. The consulting agency Savills points out that in most cases the housing offered for rent is old housing, an outdated product that does not adapt to current demand. On average, properties in this market reach the age of 20 years. In addition, the market is experiencing an active...

Since the start of the pandemic, Spain has quickly entered the list of European countries with the most stringent «anti-COVID» measures for both inter-national and internal displacement. Many citizens of the country found themselves, almost literally, locked in their homes and apartments. Visiting public places was strictly prohibited, travel opportunities were closed. Spain's tourism industry had the hardest time, but since it created up to 12% of the country's GDP, its problems very quickly began to manifest themselves in...

In Spain, the share of social housing is only 2.5%. This is noticeably lower than the European average of 9.3% and much lower than the indicators of the most developed countries. The Department «Housing and the Future» (Vivienda y Futuro), created with the cooperation of the Pompeu Fabra University (UPF) and the Association of Promoters of the Construction Sector (APCE), presented its second report on this occasion: «Cooperation between the public and private sectors in real estate market in Catalonia». ...

The amount of money needed to buy a second housing in Spain increased by 16% between 2016 and 2021. For the period from 2020 to 2021, the increase reached 2%. Such data are provided by the Fotocasa real estate web portal in the reaserch «Budget for the purchase of housing in Spain 2021». So, in 2016, Spaniards had to save up to an average of 132,000 euros to purchase housing from the secondary market with an area of 80 square meters. The price per square meter was about 1,650 euros. ...

The recovery of the real estate sector last year and the projected price growth of 6% in 2022 corresponds to the observed dynamics of supply and demand. Funcas, analytical center, claims that there is no reason to say that a price bubble has formed in the local market or «tthe market is disconnected from the real sector of the economy and the financial capabilities of buyers». However, the organization expects other risks. It is assumed that the change in the government's monetary policy should restrain the growth of demand,...