Post by account_disabled on Mar 14, 2024 1:50:04 GMT -5
The real estate brokerage company, Engel & Völkers, has stated that the demand for new construction housing is not being affected by the upward trend in interest rates , which have already reached 3.75% , especially in the most representative areas of first and second residence.
"At the threshold of summer, interest is renewed in the main coastal destinations that, together with the large cities, concentrate an investment appetite that cannot satisfy the existing offer," highlights the company.
Engel & Völkers highlights that the properties marketed by the company in Madrid have experienced an increase of more than 10% , with a significant presence of international buyers, who have multiplied by four in the last year in the new construction segment, led by Venezuelans. , Filipinos and Germans, while, on the outskirts of the city, the vast majority of purchases have been made by Spaniards.
The company has also pointed out that the less Phone Lead favorable financing conditions have had an impact on the drop in buyers who have requested a mortgage to purchase the new construction home managed by Engel & Völkers.
Thus, in 2022, properties marketed with financing have totaled 47%, compared to 53% of clients who have used their own resources, while in 2021, 73% requested a mortgage compared to 27% who used their own funds.
Demand also remains in Barcelona despite the prices In the Barcelona market, the demand for new construction remains strong and, with it, the rise in prices due not only to the lack of 'stock' of this type of property, but also due to the increase in the cost of raw materials. , construction costs and supply chain congestion.
Engel & Völkers has also recorded a significant growth of foreigners in operations in the Catalan capital, led by Americans, French and Swiss, to match the transactions carried out with national clients.
Valencia remains "inelastic" The Valencian real estate market continues to be quite "inelastic", since the main developments have been developed in non-central areas due to the limited availability of final land in the center, which has skyrocketed prices.
The profile of the buyer of new construction in the capital of Turia is that of a national client who purchases replacement housing, young couples who buy their first residence and international investors who are looking for a pied-à-terre, with a significant presence of Americans, Canadians, Germans and French.
Engel & Völkers have pointed out that, despite the rise in interest rates and contrary to what happened in Madrid and Barcelona, buyers of new construction in Valencia have continued to resort to bank financing to purchase a home.
"At the threshold of summer, interest is renewed in the main coastal destinations that, together with the large cities, concentrate an investment appetite that cannot satisfy the existing offer," highlights the company.
Engel & Völkers highlights that the properties marketed by the company in Madrid have experienced an increase of more than 10% , with a significant presence of international buyers, who have multiplied by four in the last year in the new construction segment, led by Venezuelans. , Filipinos and Germans, while, on the outskirts of the city, the vast majority of purchases have been made by Spaniards.
The company has also pointed out that the less Phone Lead favorable financing conditions have had an impact on the drop in buyers who have requested a mortgage to purchase the new construction home managed by Engel & Völkers.
Thus, in 2022, properties marketed with financing have totaled 47%, compared to 53% of clients who have used their own resources, while in 2021, 73% requested a mortgage compared to 27% who used their own funds.
Demand also remains in Barcelona despite the prices In the Barcelona market, the demand for new construction remains strong and, with it, the rise in prices due not only to the lack of 'stock' of this type of property, but also due to the increase in the cost of raw materials. , construction costs and supply chain congestion.
Engel & Völkers has also recorded a significant growth of foreigners in operations in the Catalan capital, led by Americans, French and Swiss, to match the transactions carried out with national clients.
Valencia remains "inelastic" The Valencian real estate market continues to be quite "inelastic", since the main developments have been developed in non-central areas due to the limited availability of final land in the center, which has skyrocketed prices.
The profile of the buyer of new construction in the capital of Turia is that of a national client who purchases replacement housing, young couples who buy their first residence and international investors who are looking for a pied-à-terre, with a significant presence of Americans, Canadians, Germans and French.
Engel & Völkers have pointed out that, despite the rise in interest rates and contrary to what happened in Madrid and Barcelona, buyers of new construction in Valencia have continued to resort to bank financing to purchase a home.