News, page 77

"I've never had so much work. In June, we sold more mortgages than ever before," says an employee of the mortgage department of a financial institution. The available evidence suggests that he is right. June was the month when more homes were sold in the last decade, with the exception of December 2012, an atypical period due to the Sareb creation effect. According to the statistics of house sales published on Thursday by notaries, almost 65,000 transactions were signed in Spain for the sixth month of this year, which is an exceptional...

The price of housing in Navarre remains high, according to the Valuation Society, and is €1,916 per square meter, closely behind the Autonomous Community of the Basques, where it increased by 0.3% to €2,762 per square meter in June this year. The Basque country is still the most expensive autonomous community on the coast of Cantabria, ahead of Navarre, Cantabria (€1895), Galicia (€1634) and Asturias (€1601). As for the provincial capitals with the highest average prices in the northern, these are the...

Copa del Rey de Vela was held in Palma until this weekend. One of its sponsors was Sotheby's International Realty, the British real estate agency. A company that sells luxury real estate has just opened an office on Formentera to find an active international client. But this is not the only step, the company has plans for future growth and development in Spain. The real estate brand of the famous auction house has three franchises in Spain: in Catalonia, in Andalusia and a third called Viva Sotheby's International on Formentera. It...

The real estate sector has left behind the coronavirus crisis. Sales and purchases of real estate in June increased by 23% compared to the same period in 2019. The numbers suggest that performance was even more active than before the pandemic. Data compiled by the Association of Property and Mercantile Registrars of Spain show that 94,330 sales were made in the sixth month of the year. For comparison: two years ago, 76,664 transactions were made, when the country was still in a normal economic cycle. ...

After the pandemic, the drop in sales and purchases of real estate by foreigners became an obvious fact, nevertheless, the sector is recovering, but is foreign investment recovering? According to data for 2021, investments in Spain from foreigners are growing. This group is betting on housing contracts with mortgages from banks, with hidden costs that penalize ROI. Representatives of Klev & Vera International Law Firm say foreign investors continue to gamble on the Spanish market through residential real estate...

Over the past year, real estate investment has experienced great ups and downs. With the onset of the pandemic, many predicted a “bursting bubble”, but the reality that 2021 brought is completely different: in the second quarter of this year, investments increased 258% more than in the previous quarter, according to real estate consultancy CBRE Group. “This is not the 2008 real estate crisis”, summarizes Mikel Marco-Gardoqui, Managing Director and National Director of the Capital Markets Division of CBRE Spain. These numbers prove why...

The Hyatt Group moves its luxury apartment business to Spain. In particular, to the city of Madrid, where it arrives with 22 premium tourist apartments from 300 euros per night, which will be managed by Hesperia and whose marketing will begin on 4 October. Hyatt Regency Residences Madrid, located on Paseo de la Castellana 62 in a building owned by foundations managed by the Swiss bank Pictet, include apartments ranging from 100 to 150 sq. m. plus a penthouse of 350 sq. m. and a terrace of 100 sq. m. with panoramic views. Pictet...

Despite national and international restrictions on mobility caused by the health crisis, the luxury property market in Marbella area is more active than ever. Over the past year, starting on June 21, 2020, when restrictions were lifted in Spain, there has been an unexpected, even exceptional volume of property sales and purchases. In 2021, the elite segment of the market (i.e. real estate worth more than one million euros) accelerated month after month, reaching an unprecedented level of activity. ...

Mazabi is expanding its portfolio. A property management company has acquired a hotel in Cordoba. The facility, located in the Jewish quarter, consists of 20 rooms, a Cordoba courtyard and a 200 square meter roof terrace. The family office, led by Juan Antonio Gutierrez, has bought the property from Hospedería Atalia and plans to turn it into a two-star Soho Boutique, El Confidencial reports. The amount of the transaction was not disclosed. This is the fourth hotel Mazabi has added to its portfolio this year, bringing its total assets to 20....

Cryptocurrency is gaining momentum in the real estate sector. And although a significant part of the population still does not know how they work, when viewing some of the main real estate portals, there are more and more ads in which cryptocurrency is accepted as a form of payment. The use of cryptocurrency has become a widespread phenomenon. This has forced some companies to offer their customers the opportunity to work in bitcoins. An example of this is Avinguda de Roma, number 19. In this building, located opposite Central Park,...