If we go to early 2.000, during the years before the housing bubble burst in 2007, in Spain were being built in the vicinity of the 700,000 homes year, with a large speculative component, driven by low interest rates and ever-rising property prices, what homeownership turned into a very interesting investment option.
As of August 2007, there was a slowdown in demand has meant that much of the housing stock built and not sold, has become a major burden on the balance sheet of banks and savings banks, main financing actors of the projects.
Currently a new scenario is opened for visionary overseas profitable hunters
From a investor point of view, there are three benefits this situation bring in.
• Large brand new finished housing stock with high quality construction level
• Deep prices repositioning
• Favorable financing conditions
First, according to the Ministry of Fomento in its report of January 2012 stated an excess of 676,038 new homes in our country available for sale, where Andalusia, Valencia and Catalonia represent over 50% of the total. ...continue reading "Spain: a land of opportunities for overseas investors?"