Mallorca property market update from Engel & Völkers
Mallorca Property Market Update Executive Summary: – Top end market (over €1million plus) now slowing down – Fewer sales but higher value – Lower end market slow/depressed and little demand for apartments – Correct pricing is now essential to sell – Market shift – now German buyers dominate over British (3 to 1)
Alicante developers say market has turned the corner after selling 10% of stock
The sale of 5,000 properties (10% of the housing inventory in Alicante province) during the second third of the year (May-August) is being taken as a sign that Alicante’s housing market might have turned the corner. At least that is the way that Provia – Alicante’s developer association – sees it in its latest report [...]
Two Catalan developers, Restaura and Strength, seek protection from creditors
Two leading developers in Catalonia, Restaura SL (part of the Restaura Group) and Strength, have been forced to seek court protection from their creditors.
Spanish property prices rise 0.4% over 12 months, but fall 1.3% in third quarter
Average Spanish property prices rose by 0.4% over 12 months to the end of September, but fell by 1.3% in the third quarter, according to the latest figures from the Ministry of Housing.
Marbella to legalise another 200 properties
The Mayor of Marbella, Angeles Muñoz, and the regional government in Seville have agreed to legalise, in the new town plan, another 200 properties that were formerly earmarked for demolition. This reduces the number of illegal homes in Marbella under threat of demolition from 700 to 500.
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