Spain Real Estate News
Mortgage repayment periods are usually long. During that time, many circumstances may arise that make it advisable to change its conditions. The procedure to modify these conditions is called mortgage novation.
The owner of the mortgage must take the step to request the novation. The goal is to save money or obtain more payment facilities. However, the bank can accept or reject it or admit only some of the requested changes.
Buying a bank repossession is one of the alternatives we should consider when looking for housing. These are properties that, due to non-payments and foreclosures, have passed into the hands of banking entities. Opting for this option has many advantages for the buyer but also some drawbacks.
...continue reading "Bank Repossession Properties: Pros and Cons?"
The real estate market shows signs of a slowdown. Home purchases fell 14.5% year-on-year in June 2023, according to data from the General Council of Notaries. But how does this reality influence housing prices? Knowing the evolution and prospects of the market is essential to make a decision such as buying a home in Spain.
...continue reading "Buying a Home in Spain: How Do We Expect the Market to Behave in the Final Stretch of 2023"
The forecasts have come true, the price of money continues to rise, and with the new ECB rate hike, these are now at 4%. And we must add that Euribor has also broken the 4% barrier. A scenario that portends a cooling off in the real estate sector, even more considering that forecasts do not currently point to a rates reduction nor the reference index.
...continue reading "New ECB Interest Rate Hike: Impact on Mortgages and Real Estate Market in Spain"
The concern for sustainability, energy saving and emissions reduction reaches all areas, including the real estate sector. In this scenario, the European Union finalizes a new directive on the energy efficiency of buildings. It plans to introduce significant changes not only in new construction but also in existing homes.
Experts predict essential changes in the real estate market in the coming years, especially regarding the rehabilitation of homes and the revaluation -or not- that properties can experience.