FIGURES
700,000 residential properties are vacant in Spain. More than half of them are owned by banks and "bad bank" Sareb for mortgage debts. 41% of the objects are located far from the city without infrastructure.
The Russians were involved in every fourth transaction in Provence (France), and their share in Tuscany (Italy) was 15% of the total number of vineyards purchases made by the foreigners.
The program of financial support for Greece will be extended for another four months as the country’s government provided the creditors with a reform plan, which included a ban on auction sale of the main place of residence of mortgage debtors.
TRENDS
In 2014, the volume of real estate transactions in Mallorca grew by 28% y-o-y. International Spanish Island did not feel the crisis of 2014. Foreign investors were actively buying property: the British dominated on its west coast due strengthening pound. The Americans and the Germans also didn’t left behind.
A share of the 3-bedroom apartments sold in Bulgaria in 2014 was 40%. In this case, the number of double transactions, when the customer buys more living space than sold, increased by 2 times. Moreover, demand for 1- and 2-bedroom apartments has decreased.
CELEBRITY
Adriatic villa of Josip Broz Tito is for rent. Expensive and long-term. The authorities of the Croatian city of Split are looking for an investor.
RESIDENCE PERMIT
Portugal will expand access to the "golden visas" for investors. €350,000 in science and culture, or €400,000 in the underpopulated regions – such amounts will be sufficient to obtain the investor's residence permit. The authorities intend to tighten the rules for fast issuing residence permit when investor buys property in Portugal for at least €500,000. The reason is a corruption scandal surrounding the investor's law.
PHOTO OF THE DAY
The famous singer Sting and his wife, actress Trudie Styler own many homes all around the world, from Italy to the United States. On the Apennines they own Palagio villa in Tuscany, located approximately within one hour drive from Florence and Arezzo.