Tecnocasa: Investment Purchase and Cash Payment Go Up

Tecnocasa estimates that 24.3% of all purchases realized in the second half of 2013 were of investment nature, according to the report of real estate brokering network, fruit of collaboration with the University Pompeu Fabra (UPF).

The authors of the report underline that the percentage climbed by 7.94 points in regard to the first half of the year. The number of investors grew up as well.

Additionally, the investors paying with cash are gaining ground and last year such payment method represented 58.6% of all purchases (rise by 3.99 points compared to the first half) and exceeded 84% in case of investment buyers.

Moreover, the report informs that prices of pre-owned houses decreased by 9.19% in the second half of 2013 in year-on-year terms.

The accumulated depreciation since the 2006 and 2007 maximum reaches 58.27%. Price per square meter is equal to €1.456 in contrast with the €3.500 in the times of boom.

Original article: El Economista
Translation: AURA REE

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Translation/Summary: aura