Spain Real Estate News
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.
Investing in luxury real estate has become one of the most profitable ways to maximize wealth. This appeal has led to an increase in the purchase of exclusive homes by around 8%.
Not only demand but also prices in the real estate market have risen, even above average. However, this increase does not discourage investors, who see high-end housing as a safe-haven asset with an increasing return.
Buying your first home is one of the most challenging decisions to make. It requires time, a thorough analysis of your situation and an adequate understanding of the entire process.
...continue reading "Buying Your First Home: How to Prepare and Take Your First Steps"
Access to housing is one of the biggest concerns for the youngest groups in the population. High prices, job instability and difficulties saving enough to meet the initial expenses derived from the purchase are obstacles that sometimes seem impossible. Help, in these cases, comes from youth mortgages.
...continue reading "Youth Mortgages: What They Are and What Advantages They Offer"