Spanish banks are trying to persuade homebuyers to change their habits by taking out American-style fixed-rate mortgages for as long as 30 years.Read More
Spanish banks regain confidence in real estate loans.
One of the various encouraging aspects of the latest figures published by Spain's notaries for November, in which further indications are shown that the country’s property market is at last achieving stability and even limited growth, is the increase in the extent to which residential property purchases are being financed by mortgage loans.Read More
In its “Multi-Country Report”, the International Monetary Fund (IMF) indicates that housing prices seem to be reaching the rock bottom level in Denmark, Ireland, the Netherlands and Spain, the four countries which have had experienced significant house-price falls in recent years.Read More
On a busy street in the heart of Madrid, Juan Jose Perucho shows where he is going to raise one of the tallest residential blocks seen in the capital, on a piece of land equal to five-times the size of a football pitch area which he bought from Madrid’s subway in November.
‘We have sold-out the developement faster than ever’, said the chief executive of real estate firm Ibosa referring to a 25-storey tower with a swimming pool and hanging gardens. ‘I have never seen anything like that during my 24 years in the business’.Read More
Spain's rental yield doubled since the start of the crisis and now yields more than double of what Spain's 10 year government bond pays.
Our job at OPTIMUS GLOBAL INVESTORS is to do better than those average numbers!
Madrid's prime residential rents are on the rise and outperforming.Read More
Madrid getting more animatedRead More
Spanish property market goes out of the woods and it is proven by statistics. According to the first half of the year data published by the Ministry of Public Works, unsubsidized housing market set in motion €22.25 billion, by 31% more than during the same period of time in 2013 (€16.97 billion).
The rise is welcomed after three consecutive years of decrease.Read More
Spanish residential mortgages rose 29 percent in July from a year earlier, the most since March 2006, as economic growth made homebuyers more confident.Read More
Spain’s improving economy won’t immediately lead to a “sustainable” rise in house prices as oversupply, high unemployment and a dwindling population mean demand will remain weak for the next few years, Moody’s Investors Service Inc. saidRead More
Italy’s steps to transform its real estate investment trust industry mirror changes made by Spain that helped attract foreign investors including Bill Gross and George Soros.
The Italian changes include lifting the maximum stake a single investor can hold in a REIT, known as a SIIQ in Italy, to 60 percent from 51 percent, according to a decree published in the state bulletin on Sept. 12. It also reduces the amount of recurring rental income the company must distribute to investors to 70 percent from 85 percent.Read More
Average Spanish property yield now more than twice than what the Spanish government bond pays. And those are average numbers!Read More
Spanish home prices rose in the second quarter for the first time since 2008, adding to signs that the property market is stabilizing more than six years after triggering the worst recession in the country’s democratic history.
Prices rose 0.8 percent from a year earlier, the first annual gain since the first quarter of 2008, according to data compiled by the National Statistics Institute. Values climbed 1.7 percent from the previous quarter, the Madrid-based Statistics Institute said.Read More
Marcelino Calvo Sanchez and his wife, Maria Luisa, had never heard of Goldman Sachs Group Inc. until last year, when the global investment bank bought the four-building housing estate where they live in Vallecas, on the southern outskirts of Madrid. Marcelino, a 71-year-old retired truck driver, isn’t impressed by his new landlord.
Goldman Sachs picked up the 289-unit complex in August 2013 as part of its purchase of 3,000 low-income apartments from the regional government of Madrid for 201 million euros ($269 million). With the sale, some subsidies for tenants disappeared, and, according to Sanchez, a small problem with squatters has become a larger one.Read More