A SHARP rise in the number of fixed-rate mortgages in Spain has been reported in the past two years – and they now account for 43% of every new loan taken out.
Spain's first 'crowdfunded' housing development
08/03/2018
THE first-ever housing development financed entirely through crowdfunding is about to go up in the Cantabria regional capital of Santander.
A plot of 5,500 square metres, or one-and-a-third acres on the C/ Resconorio has been earmarked for the urbanisation, which will involve an investment of around €2.9 million.
It will house two apartment blocks of three storeys apiece, each with 17 flats, and 51 parking spaces, or an average of 1.5 off-road bays per property.
City councillor for planning and infrastructure, César Díaz, says crowdfunding is 'certainly a new thing' in the housing market but could provide a 'sustainable alternative' to the usual system of bank loans secured on the eventual properties.
It will also help revive the housing market in the region's main metropolitan area, Díaz says.
Santander city council has granted planning permission to the development company, SENOR, and has released the above photograph showing what the future urbanisation will look like.
Related Topics
You may also be interested in ...
THE first-ever housing development financed entirely through crowdfunding is about to go up in the Cantabria regional capital of Santander.
A plot of 5,500 square metres, or one-and-a-third acres on the C/ Resconorio has been earmarked for the urbanisation, which will involve an investment of around €2.9 million.
It will house two apartment blocks of three storeys apiece, each with 17 flats, and 51 parking spaces, or an average of 1.5 off-road bays per property.
City councillor for planning and infrastructure, César Díaz, says crowdfunding is 'certainly a new thing' in the housing market but could provide a 'sustainable alternative' to the usual system of bank loans secured on the eventual properties.
It will also help revive the housing market in the region's main metropolitan area, Díaz says.
Santander city council has granted planning permission to the development company, SENOR, and has released the above photograph showing what the future urbanisation will look like.
Related Topics
You may also be interested in ...
More News & Information
MORTGAGE-LENDING has reduced dramatically in Spain in the past year, but that has not stopped homes on sale being snapped up: Over a third were purchased in cash, according to the latest figures.
RESIDENTIAL property sales have been shrinking consistently throughout 2023, but latest figures show this trend is relenting.
MORTGAGE signings have dropped by nearly a fifth as a result of the greatest leap in interest rates in over 20 years – but debt defaults have not risen, despite the Euribor being at its highest since 2011.