It’s no secret that the Spanish housing market could be in better shape – particularly with regards to domestic buyers – but the current market conditions have led to a significant increase in demand from foreign investors, both retail and institutional.
According to the Financial Times, large US investment funds including Apollo, Lone Star and Blackstone have registered their strong interest in a forthcoming sale of distressed properties to be held by Sareb – the organisation created by the Spanish government to hold distressed bank real estate assets.
Although Spain has been on the watch list of investment funds for some time now, institutional investors have been waiting for prices to stabilise at realistic market levels. However, now that Sareb holds much of the distressed housing stock, and with Spanish-based investment banks reporting a sharp pick-up in interest by investment funds for Spanish property, it appears market conditions are now at an attractive enough level for these types of entities to act.
Siesta Real Estate, a division of Siesta Homes Group has access to a wide selection of distressed property assets located in the Marbella area of Spain’s Costa del Sol.
For more information call Siesta Real Estate on +34 952 90 87 05 or visit our website www.siesta-realestate.com.