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Spanish property

Our legal adviser is writting about the property auctions process in Spain. To better understand the Spain court auction system of real estate properties, Bronzini will illustrate it with some examples and cases. Pay attention to case 4 which is very interesting.

No matter which option the investor chooses, he must ensure in each case that the real estate property he intends to acquire is a prime property. In addition to that, the investor must absolutely check the liability- situation of the real estate property for other debts.

To better understand the Spain court auction system of real estate properties, I will illustrate it with some examples.

The examples are fictitious and are not exhaustive regarding the acquisition options. A court auction depends very much on the concrete situation, intentions of the bank and the owners, on the offers presented by others and so on. A liability for the accuracy of this article is excluded by the author.

Read the full free legal advice

Hardball negotiators use atypical buying strategies, e.g.:

• Some of the investors buy the mortgage loan at a reasonable price and later on, eventually, apply themselves for the court auction. If there is no offer in the court auction, the investor can swap his mortgage loan for ownership of the real estate property.
• Often, the auctioned real estate properties are allocated to the financial institution itself. The investor has the opportunity to buy this allocation title at an attractive price.
• Another alternative is to buy the real estate property before the auction is held. The negotiation power of the owner of the real estate property is low. The financial institution will intervene to make an attractive price.

Property in Spain

by The Spanish Brick

"When the perception of reality seems to be worse than reality itself, the best possible reaction is to explain it in the greatest detail”, Bank of Spain Governor, Miguel Angel Fernandez, 13^th December 2010.

The Spanish property market is going through a situation in which we presume that bigger price drops will be experienced in the next nine months. Prices will fall furthermore but with moderation.

According to the Observatorio de Coyuntura Económica (OCE), property prices should fall by 24% in order to appeal to the market, whereas the agency Fitch Rating predicts in its latest analysis that prices will fall by 15%. Therefore… there is still room for price improvements for buyers and investors.

The reason we make that assumption is because the current pressure is on the main property holders, the banks and Saving Banks (Cajas), to raise money in order to meet the Government’s and also the Bank of Spain’s requirements: to increase liquidity and provisions against property risk exposure.

Rerad the full article: Spanish property forecast

The collapse of the property market in Spain has left the economy in such deadlock that the main “actors” have, these weeks, been sitting at the same table to agree new solutions to the crisis.

Government, developers and banks are drawing a common strategy in an attempt to promote the Spanish property market abroad. UK and German home buyers are in the spotlight. We will see in the UK more and more properties in Spain being advertised: The Spanish property shop is open again. DO NOT FULLY TRUST THE COMMERCIAL MESSAGES COMING FROM SPAIN

Full article: Spanish property

Demography is one of the driving factors of the property market in order to assess the needs of properties…and to be able to predict the market. In this article, we introduce some figures about demography forecast in Madrid and current prices in the Spanish capital districts that may help property investors. click to read the full article about Madrid property

Spanish property

The property market crisis is forcing home owners in valencia to bring down the selling prices by 21.6%, according to the chairman of API Valencia (equivalent to Deanery of Real Estates Agents). There are clear factors for such a drop: The Banks mortgage strategy and the current crisis. Property for sale in Valencia is getting difficult

Read the full article about Valencia property

The following link takes you to a very useful map of home prices with average figures per square metre in each region and each postcode.The data corresponds to November 2010.

This is the link: Property in Spain

If you click on a region of the map a window will be open with residential prices per city and postcodes. The source of the data are the Ministry of Housing and the firm Tasamadrid. The link takes you to the daily newspaper El Mundo.

It is very simple to use and you do not need to know Spanish the language.. Just move the pointer around the map. Nueva means "new built" whereas Usada means "Second hand" property -and that is it.

Enjoy and if you have any question please ask... I will try to sort it out.