Spain Real Estate News
The new ECB rate cut, the fourth in 2024, is good news for the real estate market. With the reduction in interest rates by 25 basis points, the price of money is 3%. However, along with this decision by the European Central Bank came another news that was not so positive: the reduction in economic growth expectations for the Eurozone.
...continue reading "New ECB Rate Cut: How Does it Affect the Real Estate Market?"
Access to housing, whether owned or rented, has become one of the biggest concerns at a social level. The latest barometer of the Centre for Sociological Research (CIS) shows that Spaniards perceive it as the second major problem in the country.
In this context, the creation of a public housing company was recently announced. Its purpose, in the words of the President of the Government, Pedro Sánchez, is to build and manage housing from the General State Administration.
The forecasts for the real estate market in 2025 point to sustained growth, in line with the last months 2024. Regarding sales, an increase in demand and prices is expected. On the other hand, the rental market could reach historic highs in terms of prices.
...continue reading "The Real Estate Market in 2025: What Are the Forecasts for the Sector"
Illegal occupation of homes is causing great concern in Spain. The main reason is the delay in the Justice system in resolving complaints and ordering evictions. However, legal uncertainty for property owners could soon end following the approval in Congress of a legislative amendment.
...continue reading "New Regulations for Illegal Occupation of Homes in Spain: Fast Trials for Squatters"
The tragic floods in Valencia have brought to light a fact that is not anecdotal: the risk involved in housing in flood zones. Although what happened in Valencia was an extraordinary event, the permissiveness of urban planning in past decades has led to thousands of buildings being built in areas at risk of flooding.
It is important to point out that this reality is not unique to Spain. Here, the 2015 reform of the Land Law attempted to set certain limitations by establishing that flood zones must be classified as non-developable land. Only if the necessary measures are adopted to prevent the risk of flooding could they be classified as developable. But what happens to housing in flood zones that have already been built?
Foreign home buyers are a significant part of the Spanish real estate market. In effect, in the second quarter of 2024, they accounted for 14.84% of purchase transactions, 0.63% more than in the previous quarter.
That is one of the data collected in the Real Estate Registry Statistics Report of the College of Registrars. We analyze other significant aspects regarding foreign home buyers below.
Inherited properties are an increasingly important part of the property market in Spain. Besides, the profile of heirs is changing, moving towards an increasingly younger population.
The age of the person who inherits varies, as does the final destination of these properties. Between selling an inherited flat or renting it, the first gains weight. But what is the process like?
According to Eurostat data, Spain is the country in the European Union with the highest number of tourist rentals after France. Despite this, there is no specific regulation at the state level. In effect, the autonomous communities regulate this type of rental. The Digital Window for rentals, which could come into operation at the beginning of 2025, seeks to provide order and, above all, avoid fraud.
...continue reading "Digital Window for Rentals: New Regulation of Holiday Rentals in Spain"
It was an expected step, although perhaps not as soon since the European Central Bank had already decided to cut interest rates in September, the third time this year. With this new reduction in the price of money by 25 basis points, the official rate stands at 3.25%, at the levels of May 2023.
This interest rate cut accompanies the evolution of the Euribor. In effect, the reference index for mortgages seems to be consolidating its downward trend. It is good news for those who must review their mortgages in the coming weeks or buy a home.
...continue reading "Interest Rate Cuts: How the ECB’s Policy Will Impact The Housing Market"
Knowing how long it takes to sell a house is not a question with an exact answer. In most cases, it is between three and twelve months, but some homes sell in a few days, and others stagnate in the real estate market and take much more than a year to find a buyer.
What is the reason for this difference? A whole series of factors influence the sales time. Therefore, we should take this into account to avoid delaying the process.