The government wants to halt the selling of public housing to vulture funds in a bid to curb rising house prices for buyers with low purchasing power, announced Pedro Sánchez, the President of the Spanish government.
Nearly 5,000 homes, intended for those on low incomes, have been acquired by funds in the region of Madrid. Of which, 1,860 came from the municipal housing agency of Madrid and nearly 3,000 from the Instituto de Vivienda (Ivima), reports online newspaper Murcia Today. Read more »
CBRE Global Investment Partners and Madison International Realty are buying a 6,458 unit portfolio of Spanish residential properties valued at €870 million.
The portfolio, consisting of 65 apartment blocks – 70% of which are located in and around Madrid – will be managed by Spanish asset manager Azora. Read more »
New figures published for the month of July reveal a slowdown in the number of visitors coming to Spain in one of the most popular months of the year for tourism, yet spending figures are on track to beat last years.
A total of 9.98 million people from outside of Spain visited the country in July, with decreases reported for the three of the biggest markets for foreign tourism; the UK, Germany and France. Read more »
As the Spanish property market continues to flourish, one of Spain’s leading home builders, Taylor Wimpey, reports a 91% increase in new property completions during the first half of the year.
In 2008, the Spanish property bubble burst and the global economic crisis halted economic growth, preventing many mortgage holders from paying back their property loans. The Spanish property market began to recover in 2014 with prices showing signs of upward movement and demand for Spanish property gradually started to resurface. Read more »
A deal with Spanish subsidiary Castellana will see Vukile Property Fund double its exposure in the Spanish real estate market, company CEO Laurence Rapp says.
The deal involves the acquisition of four shopping centres from European retail asset owner Unibail-Rodamco-Westfield at a total cost of €460m. Castellana, Vukile’s 98% subsidiary, will acquire the assets once listed on the Alternative Equity Market of the Spanish Stock Exchange – valuing Vukile’s Spanish property portfolio at €870m. Read more »