News, page 85

The cranes are working all over Palma, where new residential complexes are being built. From Cala Major to Gomila, passing through Nou Llevant, where construction is underway, or La Bonanova and El Amaneser, in the Femu Park area. The map of Ciutat is full of new buildings. Cranes show interest in new apartments. And the prices? The average is 3,500 euros per square meter, that is, 350,000 euros for a 100 square meter flat, to which VAT and expenses must be added.  ...

According to analytical studies, in the first trimester of 2021, the return on investments from Spanish real estate was 7.2% per annum, which is 0.4% lower compared to last year. The most profitable in terms of return on investment turned out to be: Lleida - 8.4%; Murcia - 7.9%; Huelva - 7.2%; Castellon de la Plana - 7%; Santa Cruz de Tenerife - 7%. Commercial premises show an average of 9.3% to 11.1%,...

On 12May, the Spanish consulate in Moscow announced the resumption of the issuance of tourist visas of the "C" type to Russians with some amendments. First of all, the owners of Spanish real estate can count on getting visas, as well as those who previously had Schengen for visiting Spain for a period of 2 years or more.  The issuance of documents began on June 1, but entry into the country with them is still limited. In 2021, Spain plans to receive more than 40 million tourists, and active work is already underway to attract...

The real estate transaction market in Spain registered a total of 196 announced and closed transactions for a total of 4,351 million euros until May 2021, according to the TTR (Transactional Track Record). This is 4.81% more in the number of transactions and 46.36% more in the amount of transactions compared to the first five months of 2020. Real estate deals lead the Spanish transaction market, outpacing the technology sector with 179 deals, the financial and insurance sector with 67 transactions, and the...

The pandemic caused a significant decline in almost all sectors of the economy, and real estate was no exception. In the key quarter of the pandemic, investment fell by 86%, and this figure has not yet recovered. Over time, each type of economic activity has improved to a greater or lesser extent, and now questions begin to revolve around the final recovery schedule, which will largely depend on the progress of vaccination. In the case of the real estate sector, the recovery is due to another key...

The real estate market in Aragon is close to recovering from the previous year. In fact, buying a new home in the region today costs 9.7% more than a year ago, reaching 1,919 euros per sq. m. Secondary real estate also rose 0.7%, according to statistics published on Tuesday by the Association of Registrars. One of the most striking figures in the statistics is the increase in prices for new real estate in the provi...

The COVID-19 crisis has shaken the Spanish real estate market, changing the housing construction paradigm and re-evaluating neighborhoods and houses, such as those located on the outskirts of urban centers and on second lines, that until now have not been particularly attractive or seen as vacation opportunities. In this context of change, the real estate sector is confidently resisting the pandemic. In fact, the predicted 7% drop in house prices in Spain will not happen this year. These are...

Millenium HotelsReal Estate plans to open its luxury hotel in the historic center of Cordoba by the end of 2023. It is a five-star property that the company will acquire after buying three stately houses located on Calle Cabezas and Calle Caldereros streets for 3.1 million euros. According to Socimi's own program, which specializes in hotel assets, this will be the penultimate of the ten properties it currently has in its portfolio in Spain. Three of them are already working, and seven are in different...

Out of every three purchases of housing in Spain by foreigners, two are made by citizens already living in Spain, respectively, they pay on average lower prices than foreigners who do not have the right to live in Spain. Foreign buyers have always been one of the driving forces of the real estate market, accounting for a significant share of all transactions in Spain. Among them, foreigners living in Spain are a heterogeneous group, which has also been affected by the crisis in terms of home purchases,...

Over the past decade, the real estate sector has become one of the most attractive for foreign investors in Spain, becoming one of the key elements for the growth of the Spanish economy after the 2008 recession. In fact, according to CBRE, more than 70% of real estate investments came from foreign capital. The weight of investments falls on housing, according to the General Council of Notaries, in the second half of 2019, they carried out 18.7% of transactions, which is 0.5% more than in the previous...