The 2008 crisis and subsequent economic difficulties had countless consequences, including the fact that many individuals couldn't pay their mortgages and suffered foreclosures. Also, numerous developers with buildings already built went bankrupt. All these homes passed into the hands of financial entities. Today many of them are in the hands of investment funds or Sareb ...continue reading "Buying bank repossession properties: pros and cons"
The United Kingdom’s decision to leave the European Union in June has not discouraged London-based property developers from investing in Spain. Among the companies looking to establish a presence along the Mediterranean are Round Hill Capital, which has chosen the Costa del Sol as its launch pad into Spain.
As one of the most moribund housing markets in Europe, Spain has become a magnet for global bargain hunters. Real estate prices are down as much as 50 percent from their peak during a housing bubble, and investors from Asia to the United States and Britain are flocking to Spain to try to catch the ...continue reading "Spain: Magnet for Global Bargain Hunters"
The demand for cheap holiday homes on the Costa del Sol, especially those destined for the foreign market has revived the interest of Sareb (‘sociedad de gestión de activos procedentes de la reestructuración bancaria’ or bad bank) in completing the stalled building work on such properties. The company, created in 2012 as part of a ...continue reading "Bad Bank to Finish 116 Homes on Costa del Sol"
The Catalan government has approved a draft bill on taxing financial institutions in the region for leaving housing they own empty for more than two years. The bill will be sent to the regional assembly for approval before the summer and will take effect from the start of next year. The levy will range from ...continue reading "Catalonia to Tax Banks for Keeping Properties Empty"