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July 21, 2014

Spain is the third country in Europe in real estate sales

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Spain is the third country in Europe in real estate sales

Property sales in Spain in the first half of 2014 exceeded 6,000 million euros. Interest of foreign investors in Spanish property is growing now, as evidenced by the official data. The total volume of real estate sales in the first six months of 2014 amounted to 6,040 million euros – for this same amount of money were made the real estate transactions in the country. According to data released by the consulting firm Cushman & Wakefield, Spain is surpassed in this indicator in Europe only by the UK with the amount of 15,909,000 euros and by Ireland, with 9,865,000 euros.

From simple contemplation to the intensive action. So can be briefly described the behavior and attitude of foreign investors with Spanish property. Since last 2013 was recorded rapid acceleration of investors' activities in Spain. Thus, the published report of the consulting company Cushman & Wakefield believes that real estate transactions in Spain reached a volume of 6,040 million euros in the first half of 2014. This figure is particularly high, compared with 2013 year, when the volume of real estate transactions in Spain slightly exceeded 4.000 million of euros.

“Spanish property entered in the active field of activity in the first half of the year and is currently among the main objectives of foreign investors,” said partner and director of capital markets in Spain of Cushman & Wakefield, Reno Cardiff. Cardiff also recalled that nearly 200,000 million euros, which are in real estate assets on the balance sheets of Spanish banks and the so-called “bad bank” SAREB, make that many large foreign investment funds is calculated to take the favorable advantage for themselves the possibility of acquiring real estate assets in Spain. According to him, the volume of real estate sales in the country “can only go in one direction”.

However, the sales of property in Spain are still far from the figure recorded in the United Kingdom. The closed operations in UK amounted to the 15.909.000 euros in the period from January to June 2014. The second place in the ranking is situated Ireland, which closed real estate transactions with the amount of 9,865,000 euros in the first half of 2014.

 

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