Property Market News — Prices, Laws and Trends

A review of the latest property market news. Here you will find articles about prices, regions, legal matters and tips for overseas property buyers.

What do real estate professionals think about the Spanish housing market?

What do real estate professionals think about the Spanish housing market? The real estate market in Spain has begun to recover, which instills confidence in real estate agents for the coming months. According to the Real Estate Market Sensitivity Index (ESI) survey, prepared by the Idealista portal, one can observe growth in the number of home purchase and sale transactions and stagnation in the rental segment. The sales confidence index increased by 2 points compared to last summer and by 20 points compared to last year. It now stands at 64 points — an indicator close to pre-pandemic period values (2019).

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Valencia Real Estate at Its Peak: Triple Growth in Transactions Compared to the Rest of Spain

Valencia Real Estate at Its Peak: Triple Growth in Transactions Compared to the Rest of Spain The Valencian Community demonstrated significant real estate market growth in October 2021 compared to previous periods. The number of real estate transactions grew by 31% year-on-year, substantially exceeding the national average of 19.7%. Compared to pre-pandemic October 2019, the region’s growth was 15.8%, three times higher than Spain’s overall growth of 5.9%.

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Vacant Housing in Spain: Where It's Located and What Tax Threatens Property Owners

Vacant Housing in Spain: Where It’s Located and What Tax Threatens Property Owners The government has included a new property tax rate (IBI) in the housing law for properties that remain vacant for extended periods (more than two years). The surcharge can amount to up to 150%. After approval of the new regulations, the decision to apply this measure will remain with municipalities. The latest proposal regarding vacant housing was made by Minister of Transport, Mobility and Urban Development José Luis Ábalos. It consisted of “clearly defining the concept of vacant housing so that municipalities can apply a surcharge to the IBI rate for residential properties that remain unoccupied, establishing a two-year monitoring period and a minimum threshold of four properties per owner.” This exact definition was included in the new law.

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Tourist Room Rentals in Barcelona: Legalize or Ban?

Tourist Room Rentals in Barcelona: Legalize or Ban? Barcelona City Council remains divided on whether to allow short-term room rentals (less than 31 days) in residential buildings. The ruling coalition itself is split: the Commons party opposes legalization to protect housing affordability, while the Socialist Party (PSC) supports it under certain conditions. Deputy Mayor Janet Sanz (BComú) stated that her priority is to “guarantee the right to housing,” and she opposes this practice. Tourism Councilor Xavier Marcé (PSC) countered that room rentals have a “social component” for low-income families supplementing their earnings through this activity.

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TOP-8 New Luxury Real Estate Projects in Madrid in 2022

TOP-8 New Luxury Real Estate Projects in Madrid in 2022 The luxury and ultra-luxury real estate market in Spain’s capital is experiencing a period of prosperity. Demand is high, while supply is limited. Currently, the market features approximately eight projects with premium housing. In the second half of the 19th century, the Marquis of Salamanca led the construction of a prestigious Madrid district that today bears his name. The aristocratic buildings on Serrano Street and its surroundings significantly changed the city’s appearance, making it resemble major European capitals, and in 1871 gave impetus to the creation of Madrid’s first tram line (connecting this district to the central Puerta del Sol). Today, 150 years later, the Salamanca district once again leads the luxury revival in the capital thanks to large-scale reconstruction projects that are restoring the splendor to its most magnificent buildings.

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The New Reference Value of Homes for Property Tax Calculations

The New Reference Value of Homes for Property Tax Calculations In this article, you will learn about the average value of real estate transactions that will determine the tax increase prepared by the government for the coming year. Starting January 1, 2022, the Spanish Ministry of Finance will use a new reference value for housing when calculating the following taxes: inheritance and gift tax, property transfer tax and documented legal acts (ITP), as well as property tax. In other words, when inheriting, receiving as a gift, or purchasing real estate, the new value will be applied when calculating these taxes.

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The Catalan Rental Law: Doubts About Effectiveness and Risk of Reverse Effect

The Catalan Rental Law: Doubts About Effectiveness and Risk of Reverse Effect Has the Catalan rental law succeeded in reducing prices, or has it had a negative impact on the market? This question has been occupying the Spanish real estate market for several months now — and not only in Catalonia. Since a national law is being negotiated between PSOE and Unidas Podemos, the results of the regional law could determine the content of Spanish legislation.

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The Building in Calpe That Inspired the Creators of 'Squid Game'

The Building in Calpe That Inspired the Creators of “Squid Game” Have you already watched the buzzworthy Korean series? If you also liked the labyrinth building from “Squid Game” and want to take photos inside - read on to find out where to find its twin! The action of “Squid Game” transports us to a fantasy world of children’s games and bright colors, but the sets were created based on real buildings - such as this house in Calpe, built in the 70s.

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Spanish Real Estate Market: News for September 2021

Spanish Real Estate Market: News for September 2021 Ibiza prices growing rapidly after the pandemic 73% of luxury housing stock concentrated in 4 Spanish provinces An Aztec pyramid will appear in central Madrid 2 September deals worth over 100 million euros Developers invest in nursing homes Article 28 of the Mortgage Law, limiting the sale of inherited homes, has been repealed 1. Ibiza prices growing rapidly after the pandemic

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Spanish Real Estate Market News for November 2021

Spanish Real Estate Market News for November 2021 The return of a ghost village, the return of foreign buyers, a boom in ultra-luxury hotels, and a 400 million euro tower. What was happening in the Spanish real estate market in November? Foreigners are returning and buying more and more houses and apartments in Spain. Don’t lag behind them and the Spaniards - the number of buy-sell transactions has already exceeded the figures from 2008! We analyzed the trends that emerged in the Spanish real estate market in November, major deals and events.

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Spanish Real Estate Market News Digest for December 2021

Spanish Real Estate Market News Digest for December 2021 Own castle with 70% discount New construction boom in Spain Valencia real estate prices rising rapidly High electricity bills spur interest in alternative energy How secondary housing market prices are changing New skyscraper district to appear in Benidorm 2022 forecast 1. Own castle with 70% discount Castillo de la Vela castle in Maqueda (Toledo province) is listed for sale at €3.2 million — 70% below the original price. The 13th-century fortress originated as a Roman observation post, was later rebuilt as a Muslim castle, expanded in 981 and reconstructed in the 15th century. Queen Isabella I of Castile lived here, and in 1931 the castle received the status of a historic-artistic monument.

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Risk of a Real Estate Bubble in Spain: Buy Now or Wait?

Risk of a Real Estate Bubble in Spain: Buy Now or Wait? Growing sense of bubble proximity. The idea that “we are close to a real estate bubble” is becoming increasingly popular among Spaniards. At the beginning of the year, in February, the level of concern was 5.7 out of 10. Seven months later, this fear grew to 6.1, according to Fotocasa data. This is just perception, but it is not without basis. According to María Matos, research director of the portal, it is based on what Spaniards see as prices continue to rise despite the pandemic, when everyone expected them to fall. And they are indeed rising. By 3.3% in the second quarter, according to Bank of Spain data.

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