real estate sector

Spanish economy 20th January 2021

Real Estate Investment In Spain Could Grow By 25% In 2021

Intermoney | Real estate investment in Spain should increase by up to 25% this year compared to 2020, says a report by CBRE. So investment would be some €12 Bn in 2021, not including corporate operations like the purchase of Quabit by Neinor. However, CBRE expects uncertainty will remain during the first part of the year at the expense of progress in the pandemic vaccination process. Areas such as rental housing, logistics, and other assets such as student and nursing homes are expected to remain on the rise.

Spanish economy 12th January 2021

Neinor Homes And Rival Quabit Revolutionise Real Estate Industry: Create Spain’s Second Largest Group

Banca March | The Neinor group yesterday announced the absorption of its listed rival Quabit, creating a giant in the residential development sector. The group resulting from the merger will have a land portfolio with a gross value of some €2 Bn for the development of 16,000 homes. Also a gross development value of some €4.5 Bn. The operation will place Neinor behind Metrovacesa and Aedas in Spain’s real estate ranking. Metrovacesa has land valued at €2.626 Bn for the development of 36,000 homes, while Aedas has a land bank of approximately €2.16 Bn or 15,700 homes.

Spanish economy 11th January 2021

The price of housing in Spain could fall by 5% in 2021

Continuing the negative trend already observed in 2020, when this type of asset depreciated by 3.7%, housing prices could fall 5% in 2021. On the other hand, a certain recovery in the volume of sales and purchases is expected this year, with up to 480,000 transactions compared to 450,000 last year; in 2019, almost 570,000 property sales and purchases were recorded.

Spanish economy 28th December 2020

NGEU And 2021 Spain’s Budget: A Significant Amount Allocated To Relaunch Spain’s Real Estate Sector

CaixaBank Research | The Recovery, Transformation and Resilience Plan (PRTR) for the Spanish economy could be an important catalyst for the real estate sector. With the help of European funds, the government plans to recondition half a million homes between 2021 and 2023, with the aim of improving their energy efficiency and thereby helping to achieve the agreed decarbonisation targets. The General State Budget (PGE) also proposes a notable increase in the funds allocated to housing policies.

Spanish economy 29th October 2020

Spanish SOCIMIs Could Suffer A Major Setback With A Tax Burden Of 15%

Even though SOCIMIS have played a leading role in the Spanish real estate market since 2013 , as a result of Covid-19, their market value has dropped to €21.268 Bn, a decline of more than 17% against the end of 2019. In addition, these vehicles have benefited from a tax regime adapted to that of traditional REITs. Now, however, the government could impose a tax burden of 15% on them, which would damage cash flow and increase the risk premium associated with investing in real estate assets in Spain, say Banco Sabadell analysts.

Spanish economy 19th October 2020

The Impact Of The COVID-19 Crisis Begins To Be Felt In Spain Housing Prices

Indicators for the real estate market show a significant recovery in activity in the sector, following the standstill during the state of alarm. On the demand side, home sales recovered well in July and increased by 20% month-on-month, although in cumulative terms for the year to date there is still a year-on-year decline of 25.8%. On the supply side, the construction sector has also quickly restarted its activity. In August, cement consumption was only 2.1% below the level of August last year, with a notable recovery from the 50% fall registered in April.

Spanish economy 28th September 2020

Teleworking In Spain Will Moderate Urban Mobility And Residential Decisions But Not Change Secular Trends

The coronavirus pandemic forced a high percentage of Spaniards to telework. Despite this figures has been declining as the social distancing measures have been lifted, many firms are already considering the option of offering their employees a more flexible way of working, combining days working face-to-face in the office with working remotely. Iin this article experts at CaixaBank Research will analyse its implications for urban mobility and, from a longer-term perspective, for the residential real estate market.

European politics 20th September 2020

Across Europe, Inequality Hangs Over Housing Issues

European Views | Across Europe, real estate markets which were already daunting for lower-income buyers – like Germany or Portugal – are set to become even more gruelling because of new economic stresses caused by the pandemic. 40% of young people in Europe who are at risk of poverty consider prohibitive housing costs, one of the chief contributors to their plight, while a similar percentage of low-income earners already struggle with overcrowded living situations.

Spanish economy 1st September 2020

Foreign Demand For Housing, Key To Spain’s Sector’s Recovery

Caixabank Research | In recent years, purchases by foreigners have been fundamental in boosting Spain’s real estate sector, especially in large cities and tourist areas. In 2019, foreigners bought almost 63,000 homes in Spain, accounting for 12.5% of total purchases according to the College of Registrars. We can observe that Q1 sales to foreigners totalled 14,850, down by 6.4% year-on-year. The decline in property purchases by UK citizens (–14%) is particularly large.

Spanish economy 22nd July 2020

The Fall In Home Sales In May Reflects The Effects Of Spain’s State Of Alarm

Bankia Estudios | Property transactions in the Spanish market have plummeted. Home sales fell sharply in May: only 22,394 transactions, the worst month of May in the available series since 2007, and less than half of the transactions recorded a year ago (48,351 in May 2019). In any event, the deterioration reflects the logical effects of the sector closing down due to the state of alarm. In the second half of the year, the reactivation of the economy, the labour market and, above all, family income will determine the behaviour of demand.

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