Homes that have withstood the crisis better
There are areas where it has become clear that market behavior differs from the rest of Spain
That official statistics do not show the reality of each and every one of the Spanish cities and, above all, of certain areas or neighborhoods, is a fact. Although different studies show not only that the house price has fallen around 20% in the last four years, but this trend has been accentuated in recent months, there are still pockets where market behavior property is completely different-and alien-to the general downturn in the sector in Spain.
Although no one can speak of cities where housing demand reach and even exceed, that of offering real estate, yes there are areas where many estate agents have shown that, by its internal characteristics, the behavior of market Unlike the rest of Spain.
Specifically, within the city of Madrid, highlight areas inside the center of the capital, as the Salamanca district or districts and Chamartín Chamberí, in the metropolitan area, the areas near the A-1 (Alcobendas, San Sebastian de los Reyes, etc..) and the A-6 (Pozuelo de Alarcón, Majadahonda and Las Rozas, among others) also show this characteristic property.
Pelayo Barroso, director of Market Analysis and Research at Aguirre Newman, noted that "these are areas that are within the cities, and in which the supply of newly built housing is very scarce." In fact, the expert explained that this lack of building works, because there is little possibility of them in the absence of land is one of the causes behind the best performing property market. "There is oversupply," says Pelayo Barroso, who compares this situation with that of other areas, such as the Madrid suburbs, where "there is so much product and, above all, weak demand."
Foreigners buy homes in Spain again: investment rose 27% in 2011
- Foreigners invested 4.748 million in the purchase of property in 2011.
- It is the largest payout made by this group since 2008.
- Foreign investment has increased for the second consecutive year.
The housing prices in Spain, decreased between 25% and 30% since 2007, are attractive especially for foreign pockets, unlike the spanish natinals, that are suffering the economic crisis with intensity.
Foreigners invested 4.748 million euros in buying property in Spain in 2011, up 27% from the previous year. This represents the largest payout made by this group since 2008, while that of the Spanish abroad decreased by 23.4%.
According to the Bank of Spain, the Spanish foreign investment in real estate, which has increased for the second consecutive year, did not exceed EUR 4,000 million for three years and experienced a steep climb from the "boom" in housing. With this rise, the consideration paid by foreigners in homes located in Spain closed last year at levels similar to those recorded in 2006, when investment totaled 4.716 million euros.
Despite the money spent on foreign Spanish property, in 2011 it far exceeded that what was recorded in both 2009 and 2010, this amount remains far from the figures reached in 2007 or 2008, when it surpassed the 5,300 million and to improve the vision of the Spanish property market, the previous government launched last year a "road show" for different countries to capture the interest of international investors.