Balearics is one of the places in Spain with more interest in permanent homes, vacation rentals and other. The current moment is perfect to investing in a property in the islands since the constant revaluation is maintained for months and also has better facilities for mortgage loans; an excellent combination to generate good prospects in the sector.
Based on data from the INE (National Statistics Institute), Balearics is the community in which more grown the interannual housing prices, at 4%.
Real estate activity has picked up significantly by the good performance of the economy in the islands, especially the last two tourist seasons, which has generated greatest richness and economic dynamism. Banks have increased granting credits for the purchase of properties, in this regard has also increased the number of companies and individuals who now see in properties a warranty investment.
Acquire housing for rent represent a gross annual return of 5%, a higher percentage than banks offer deposits and more at a time of rising prices. International investment in real estate product has grown exponentially in recent years. Of the approximately 1,100 million direct investment received in 2012 it went to 1,892 million the following year in 2014 rose to 3,010 million euros in the year. The past fiscal year, the figure increased to 3,012.5 million euros and a further increase is expected for this year.
The increase of international interest aroused by the Spanish real estate activity has, likewise, much to do with price stabilization that it has stopped falling across the board.
Similarly, one of the major revolutions that has lived the Spanish real estate sector in recent years is the consolidation of the SOCIMI (listed companies investment in the property market), an investment linked to the rental market, which has been gaining projection in Spain. Retail customers also have the opportunity to enter the real estate sector through specialized investment funds. Most of these funds takes stakes REIT (investment vehicles in the real estate sector) carrying consolidated decades in countries like the UK, Holland and France, and are dedicated to buy buildings, offices or malls, put them in rent and distribute dividends to its shareholders.
We offer legal assistance regarding funds from other countries for investment in real estate and business. Our team has extensive international experience and cooperation agreements with international firms. We are also members of the Association of International Property Professionals (AIPP).
Our clients know to turn to us with any legal matter, and that if the particular issue is beyond the scope of our practice areas, we will assist them in finding the professional assistance that is required.
