Edición:International market trends
International Market Trends
According to a survey by Mycredit on about 500 brokers aimed at assessing the impact of Covid-19 on the real estate market, the pandemic is likel...
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Investment in housing is gaining ground over other assets, such as the stock market and other equity products, with returns of between 7% and 8% in several Spanish provinces.
The regional government is going to put 240 publicly owned plots up for sale, of which 102 are for residential use. The jewel in the crown is a plot spanning more than 32,000 m2 in the heart of the Salamanca district.
The coronavirus crisis is causing house price decreases of up to 70% in some municipalities in Castilla La-Mancha, the Community of Valencia and Andalucía.
Between April and August, work began on 996 developments in Spain with the ten largest comprising 1,691 homes. Of those ten, which are located in Madrid, the Basque Country, the Community of Valencia and Andalucía, four are being built by Amenabar.
The Qatari group, which owns the Alicante-based construction company Ecisa, has given up half of its stake in exchange for shares in the listed real estate company.
The sale of the first two portfolios post-Covid in Spain reflects the fears of the international funds, which are making offers with average discounts of 20%.
International investment firms such as Fortress, Bain Capital and Bayview are opting to look for potential investments in southern European markets outside of Spain, putting operations such as the sale of NPL's in Santander and Sabadell on hold.