Kill Queen

Tinsa’s, the Appraisal Company, House Price Index depicted an 8 percent downfall during the last week. The Government is about to publish the Housing Price Index for 2011 which, has stark similarities in term of decline to the tune of 6.8 percent for 2011.

Both the Indexes show almost similar pattern wherein there is double digit fall by the end of December 2010 and accelerating throughout 2011.

Post inflation amendments to the figures, it is seen that the house prices in Spain dipped 9.6 percent officially in 2011. So the ones whose income was not affected (indefinite labor contracts with a major Spaniards) during the last year actually witnessed that the actual cost of purchasing a house fell by 10 percent or more if, 50 percent rebate on VAT on new houses is also taken into account.

The house prices fell mostly in Aragon (-10.4 percent), Madrid (-8.2 percent), Andalucia (-7.8 percent) and Catalonia (-7.7 percent) with the Basque Region (-3.1 percent), Asturias (-2.7 percent) and Extremadura (-2.1 percent) dipping the least.

According to the head of research at the website Idealista.com, Fernando Encinar, “there is almost no motive to expect any changes in 2012”.

Needless to say all these official figures will have to be accepted on the face value without any condition. So if, the official index depicted a decline of 6.8 percent then, in actual life it would have been in the range of 10 percent to 15 percent.

Yet to be promulgated and only thing that is unseen for 2011 would be the official House Price Index published by the National Statistics Institute due to be out in a month or two and widely referred by the international press. As compared to its previous form it would be keeping a low profile of the price fall more than any other statistics. This goes on very well to put across a point why international press publishes that Spanish real estate market have not dipped much.

More information and photos can be found at http://news.kyero.com/

• Comments Off

Catalunya Caixa Bank released reports showing that the holiday resorts are built in enormous rate in Spain. The limit reached about 85 percent causing excessive lowering of property value in Spain. The supply of homes has increased in comparison to demand.

Real estate in Spain is mostly falling empty in the seaside regions. The people of cold countries prefer buying homes in sunny places. The builders have built about 1 million homes in and around Madrid, Castilla y Leon and other parts. Absolute emptiness in demand has caused deterioration in the condition of buying real estate in Spain.

This situation of property buying will remain like this for some years. It will take some time to restore the demand once again. Holiday resorts of Spain have been sensationally hit at one point of time but economic recession has lowered the craving of buyers.

Properties in Spain have become very reasonable now. Buyers can make the best from this. Investment made during this time will be highly recommendable. Great deals are been provided. People must grab such good opportunities without send thought. Repossession is becoming common phenomenon.

Marked price fall about 70 percent is noticed since the year 2007.

More information and photos can be found at http://www.aplaceinthesun.com

• Comments Off

Torrevieja is located in the South Eastern region of Spain. It is gaining popularity in the Spanish real estate.

The National Statistics Institute of Spain has published fascinating reports of huge real estate sales in this region. It has grabbed a position among the famous areas like Barcelona, Madrid, Zaragoza and Seville. Astonishing records of sales shows about 672 sales in this particular region in the first four months of the year. The Bilbao region has slightly higher sales figures like 675 and Zaragoza has records of 737 sales.

Torrevieja region was the best selling market in the Valencia state. Valencia City, Alicante, Castellon and Benidorm showed good range of selling amounts. About 600 properties were sold. These regions are showing high degree of developmental work. People are inclined towards the newly constructed properties.

The property experts are still not impressed with such figures. The figures are not at all close to the huge sales figures of 2400 properties shown in the years of 2004 and 2006. During that time people had lots of money in hand to spend.

Chris Mercer is the founder of a famous Spanish real estate. He is quite happy with the increasing sales in this region.

More information and photos can be found at http://www.aplaceinthesun.com

• Comments Off

The most recent figures published by Savills confirm that Madrid’s central business district (CBD) is experiencing the first signs of recovery in the commercial real estate market.

The rate for vacant office space declined during the second quarter of 2011 to just 4.73%, compared to the rather depressing rate of 5.31% during the first three months of this year.

Savill’s survey also revealed that the absence of new building projects has prompted a surge of refurbishment projects by landlords across Spain, no doubt hoping to offer their properties as desirable rentals on the office space market.

“It’s a promising sign,” says Ana Zavala, Savill Madrid’s head of office, adding that the current state of Spain’s economy was still an obstacle with potential investors in commercial real estate.

The most recent European Commercial Property Survey, issued by the Royal Institution of Chartered Surveyors, covers the market developments for the second quarter of this year and suggests that property investment transactions across Spain are set to increase in the next quarter.

The first tentative steps into this direction are already being seen in the office building sector, where a few low level transactions have helped to keep yields steady since the start of 2011.

More information and photos can be found at http://www.propertyshowrooms.com

• Comments Off