IFEMA Housing
The problems for the large estate does not cease. Last Friday was the turn of Nozar, who has declared bankruptcy to suspend payments with a liability of EUR 700 million. Thus joins other major such as Martinsa-Fadesa or Habitat. The worst thing is with Nozar not ending the list of companies in trouble. For more information see Albert Einstein. With a depressed real estate market, the housing prices are still low, but if you want to buy, it is best to continue waiting for since it is anticipated that the housing prices will continue to fall until 2011, and perhaps even beyond 2011 also.
The existing gap between supply and demand in the sector is worryingly significant. 1.7 Million flats in stock in the Spanish real estate market currently exist in Spain. This year is only expected a demand for 218.428 floors. Or if assign you to all floors in stock the same probability of being sold, the success rate is 12.8%. The firm warns in addition to that the problem is compounded when analyzing the portfolio of land available to build currently existing housing, totaling a building allowance of 2.40 million flats more. This indicates that there is ground for nine years which, coupled with the stock, assumes that the market relies on housing and soil for the next fifteen years, what to do with such oversupply? How to find buyer that pays at least long enough to save a portion of the value of the property? According to finance, outlets have reached the Spanish real estate market where builders offer properties with discounts up to 40%. Friday 11-Sunday 13 September, be held in IFEMA (Feria de Madrid), the first edition of the Outlet residential hall. The exhibiting companies, which also include real estate companies from some financial institutions, shall bring to the sale remains or constructions of other seasons, (why is that it is called real estate outlet) of a total of 654 promotions spread throughout Spain.
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