Investment Funds starting to make Large Investments into Spanish Property
26 Jan 2014
With the news that one investment fund has already agreed to Purchase 30 Billion Euros of real estate assets from SAREB (Also known as the Spain Bad Bank) this is a very good indication that the market has hit the bottom according to Nick Stuart Managing Director of Spanish Hot Properties.
The reality is in certain areas such as Mallorca prices are already on the rise with 5% price rises in the Balearic Islands in 2013. The same could be said for the prime location area of Marbella in Costa del Sol. This would be the area between Elviria to Puerto Banus including Nueva Andalucia and Marbella itself said Nick.
Obviously with the news that SAREB are now very bullish about its remaining assets and that such large investment funds are looking to buy in Spain its clear in a lot of prime location areas that prices will be more expensive in 2015 in 2014. The Spanish property market has lots of different variables and some prices still need to fall further but not in the best areas claimed Nick.
One example that illustrates Nick’s point of view is the development Santa Maria Village that is owned by Cajamar bank and for the last two years has been commercialized by an outside real estate company for the bank. However last week Cajamar terminated that agreement and took control of the remaining assets with a view to selling those all to one pension or investment fund providing further evidence that 2014 is the last year of opportunity to buy in prime location areas of Spain.
If you would like advice on how to take advantage of the real estate market in Spain in 2014 the please feel free to contact Spanish Hot Properties by either email or phone.
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- "Honest and supportive Nick managed the whole process from start to finish and made sure the whole sale and mortgage approval went through smoothly"