Post by mdshamiul777 on Feb 12, 2024 4:23:50 GMT
The Spanish real estate market is beginning to show signs of improvement. After seven long years of real estate and financial crisis, significant changes are beginning to be detected in the market whose interpretation cannot be other than that of recovery.
If you are one of those people who has been carefully observing the market, waiting for the most advantageous conditions to buy a home, I am going to give you several reasons to get started, especially if your goal is Madrid or Barcelona . .
The average house price has suffered an increase of 1.4% in Vietnam Email List the last two quarters of 2014, an upward rebound that has not occurred since 2007. House prices in Spain, in general terms, have hit the bottom and They have stabilized during 2014. Seven years of price falls are behind us, which have regulated the market, placing it at realistic and acceptable values.
There are many points in Spain in which the stocks left by the crisis have already been absorbed. In general terms, home sales grew by 14% in November 2014, led by second-hand homes with a growth of 41.6% and slowed by a drop in new construction sales of 20.6%. There are three reasons for this trend: the already noted stabilization of prices; that the sales operations carried out by banks on new construction units are technically given as second transmissions; and finally the resounding drop in recent years in the volume of new housing construction. This impulse has been manifested in 15 of the 17 autonomous communities.
The breakdown of stocks of new construction that is beginning to manifest itself in some parts of our geography is more evident in the two large capitals, Barcelona and Madrid. This situation of imbalance between supply and demand, caused by the lack of construction activity in recent years, will surely result in upward pressure on prices.
The mortgage market , essential for the real estate market to function efficiently, is regaining its momentum. Recapitalizations and stress tests are now behind us, today entities set growth objectives, prudent, but growth. In the last two months, at least 12 entities have lowered their rates for mortgage operations, offering differentials between 1 and 1.55%. Banks must improve their operating margins and they can only do so by lending, since the path of cost reduction practiced during the reconversion of the sector no longer has a path. During 2014, the granting of new mortgages in Spain grew by 18%.
The labor market has also changed its trend during 2014, and in 2015 there will be no more speculation about the percentage of job destruction, but instead about the percentage of job creation.
Finally, the country's growth also plays in favor of the recovery of the sector. The IMF's latest growth forecast for Spain has been at 2%, with the banking and government forecasts being even more optimistic (2.3%).
All the beginnings have a physical and a temporal origin, and the beginning of the real estate recovery is not going to be different, the temporal one will have 2015 as its protagonist and the physical one will place its epicenter in the large capitals, Madrid and Barcelona. My advice if you are interested in buying an apartment in these cities, is not to wait any longer and be attentive to all the proposals that arise in the real estate and mortgage markets. The time has come to take action.
If you are one of those people who has been carefully observing the market, waiting for the most advantageous conditions to buy a home, I am going to give you several reasons to get started, especially if your goal is Madrid or Barcelona . .
The average house price has suffered an increase of 1.4% in Vietnam Email List the last two quarters of 2014, an upward rebound that has not occurred since 2007. House prices in Spain, in general terms, have hit the bottom and They have stabilized during 2014. Seven years of price falls are behind us, which have regulated the market, placing it at realistic and acceptable values.
There are many points in Spain in which the stocks left by the crisis have already been absorbed. In general terms, home sales grew by 14% in November 2014, led by second-hand homes with a growth of 41.6% and slowed by a drop in new construction sales of 20.6%. There are three reasons for this trend: the already noted stabilization of prices; that the sales operations carried out by banks on new construction units are technically given as second transmissions; and finally the resounding drop in recent years in the volume of new housing construction. This impulse has been manifested in 15 of the 17 autonomous communities.
The breakdown of stocks of new construction that is beginning to manifest itself in some parts of our geography is more evident in the two large capitals, Barcelona and Madrid. This situation of imbalance between supply and demand, caused by the lack of construction activity in recent years, will surely result in upward pressure on prices.
The mortgage market , essential for the real estate market to function efficiently, is regaining its momentum. Recapitalizations and stress tests are now behind us, today entities set growth objectives, prudent, but growth. In the last two months, at least 12 entities have lowered their rates for mortgage operations, offering differentials between 1 and 1.55%. Banks must improve their operating margins and they can only do so by lending, since the path of cost reduction practiced during the reconversion of the sector no longer has a path. During 2014, the granting of new mortgages in Spain grew by 18%.
The labor market has also changed its trend during 2014, and in 2015 there will be no more speculation about the percentage of job destruction, but instead about the percentage of job creation.
Finally, the country's growth also plays in favor of the recovery of the sector. The IMF's latest growth forecast for Spain has been at 2%, with the banking and government forecasts being even more optimistic (2.3%).
All the beginnings have a physical and a temporal origin, and the beginning of the real estate recovery is not going to be different, the temporal one will have 2015 as its protagonist and the physical one will place its epicenter in the large capitals, Madrid and Barcelona. My advice if you are interested in buying an apartment in these cities, is not to wait any longer and be attentive to all the proposals that arise in the real estate and mortgage markets. The time has come to take action.
