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Property Wire (3/11/2017)

Property sales and prices in Spain are forecast to rise in 2018 as long as there are no sudden economic surprises or changes to the mortgage market.

Anticipa, one of Spain’s biggest real estate providers, expects sales to rise 9.3% next year to 526,000 units, up from 481,000 this year and 21% more than in 2016.

It is also forecasting that prices will have risen by 6.9% by the end of 2017 and looking ahead to 2018 are set to rise by slightly less at 6.1%. Even with this rise they will still be 27% below the peak of the market in 2007.

Prices for resales and new builds are expected to continue to increase by 5.8% over the fourth quarter of this year, the firm says in its latest real estate market report, but this was compiled before Catalonia declared independence and the national Government took over the running of the region.

Mark Stucklin of Spanish Property Insight, pointed out that the company’s forecast for 2018 is 85% higher than the nadir of 2013 when just 285,000 homes were sold in Spain. But as the report shows the market is still 42% below its peak of over 900,000 sales in 2006.

Building completions on new homes in Spain will also be well below their peak reached in the boom years. The report expects a total of 63,400 in 2019, compared to 62,900 in 2017.

Stucklin explained that although these figures do show a significant increase of over 48% in relation to the low of 2016 when 42,700 completed properties, volume still lies 90% below its peak.

Forecasts could be affected by what happens in Catalonia regarding the region’s bid for independent from Spain. The region is regarded as the wealthiest in Spain and its capital Barcelona has seen some of the highest property price rises this year.

With the Madrid Government having now taken over control of the regional government ahead of elections in December there is now a state of wait and see. Spain’s third largest bank Caixa Bank has already moved its registered office out of Catalonia and is likely to wait until after the regional election to announce what the future holds.

In Spain large property companies with a lot of exposure in Catalonia have seen their share prices slump. Merlin Properties and Colonial fell by 5.3% and 6.4% respectively at the height of the independence crisis.


World Property Journal (5/12/2017)

According to Knight Frank, Madrid’s occupational market has seen a particularly buoyant period, with the first nine months of 2017 registering the strongest office occupier activity in a decade, reaching 359,000 square meters.

The upturn in the Spanish economy is of course vitally linked to this increased activity; Spain’s economy is outpacing the Eurozone, with GDP growth in Q3 registered at 3.1% and forecast to move towards the pre-crisis peak by year-end.

This economic stability has led to business confidence and the creation of jobs, particularly in the professional services sector, underpinning the increasing momentum in the office market. Already having reached strong levels, office take up is expected to reach 480,000 sq. m by year-end, the second strongest year in a decade.

In response to demand and supply pressures, prime rents in the city continue to increase, reaching €29.50 in Q3 2017. These demand pressures have seen office availability fall to 11.6%, but the city’s development pipeline is now improving and around 325,000 sq. m of office space is planned for delivery in 2018-2019.

Investment volumes in Madrid’s office market totaled €928 million in the first nine months of 2017 and full year volumes are expected to complete ahead of the long-term average.

The city has seen increased activity from UK and US investors, meaning that the percentage of domestic capital has fallen slightly from 74% in 2016 to 60% this year. The heightened pressure to buy and lack of product in the city have led to yield compression, with yields at 3.75% in Q3 2017 and set to compress further.

With clear signs that the economic and occupational markets are in growth territory, the outlook for Madrid is promising. Rental growth prospects are positive, underpinned by a strong occupier market and these strong occupier fundamentals are in turn attracting investors.

This positive occupier trend will continue into 2018, with further rental increases expected and the positive economic outlook boosting investor confidence even further.

Humphrey White, Managing Director of Knight Frank Spain commented, “This year in 2017, albeit a hectic one, Madrid has demonstrated its strengths within the office market showing positive data across all regions; from rent levels to absorption, furthering to the ever-increasing attractive investment market. Likewise, it seems that this tendency will be prolonged at least over the next two phases motivated by positive GDP data, making Madrid a referential European city.”


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From RP International we provide our approved International Agents with technological tools to publish real estate, contact Realtors from other countries, search and offer: investment opportunities, experts in real estate business areas, ….

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Posted on March 8, 2018 in Agents by Kyero

For many years, the dream of a new life on the continent has led hordes of British people to depart UK shores for sunny Spain. With figures reported last year* showing that some 296,000 British citizens have resided in Spain for over a year, Britons make up an important segment of international investors in the Spanish property market.

Learning everything you can about these British buyers makes good business sense. Their buying patterns and habits can help to inform your marketing decisions and allow you to relate more to the potential customers you meet. This is what we have learned about British buyers through our extensive experience of the international property market.

The Brexit Effect

Brexit will undoubtedly have an effect on the international housing market, but whether this is positive or negative remains to be seen. Recent data collated by Kyero appears to show that to date this impact is negligible, with only a 3% drop in sales enquiries between 2016 and 2017. The only change appears to be a shift in preference from low-end properties (<€100k) to mid-range homes. It seems that those buyers with the tightest budgets may be waiting until there is more certainty in the market before making their decision. As yet, mid and higher-level buyers appear relatively unaffected.

What types of properties are Brits interested in?

Recent Kyero data shows that across the Spanish mainland and its islands, Britons prefer apartments and villas with on average 2-3 bedrooms. The exception can be seen in the more affluent provinces of Barcelona and Girona where larger properties of up to 4 bedrooms are the more popular choice. The average price of British enquiries varies widely from €49.9k in Tarragona in the north-east of Catalonia, to €440k on the holiday island of Ibiza. The Balearics remain popular for British buyers, with the largest proportion of enquiries in the €250-500k price range.

Brits are led by their hearts

Recent research** has shown that the average amount of time it takes for UK home buyers to make a decision to purchase is just 27 minutes, with many saying they know if a home is right the second they walk through the door. This shows that Britons act largely on emotion. By using descriptive language in your property listings, and by helping potential buyers to imagine themselves living in a property they are viewing, you may be able to tap into this emotional decision-making for a faster sale.

How to best support a British buyer

When you’re dealing with potential buyers from the UK, there are a few things you can do to help foster a great relationship. Be aware that Brits can be fairly reserved and do not always appreciate the physical signs of affection such as kisses and hugs which are offered freely by their European neighbours. Instead, offering a polite and respectful handshake will go down well with any British buyer.

Britons place high value on common courtesies and appreciate frequent use of ‘please’, ‘thank you’ and ‘sorry’ should the need arise. If you are unavoidably held up and likely to be late for an appointment, early warning and an apology will go a long way to ease the situation. They are also advocators of fairness when it comes to queuing for service, so if several people arrive at your office, be sure to speak to them in the correct order so you don’t inadvertently offend anyone.

By taking time to get to know the buying habits and quirks of the British buyers that make up the largest part of your international market, you will give yourself the best chance of securing that sale. For further insights, see Kyero’s special report: What Do The British Buy In Spain?

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