After our recent, rather unflattering reports concerning corrupted mayors, unfair court rulings and the aftermath of the housing crash, it is refreshing to have a more positive picture painted with efforts being made to improve the housing market in Spain, nationwide.
A Spanish business school is behind the innovative new initiative attempting to turn the current slump into a far more constructive and lucrative scenario. Their plan is to build a network of developers and international agents to hopefully clear up the increasing numbers of unsold properties in Spain.
The ‘Instituto de Práctica Empresarial’ (IPE, Business Practice Institute) have set up ‘The Spanish Homes Network’ (SHN), based in Andalucia, to support this new business plan. It has been reported that, “it has so far signed agreements with ten developers and pre-agreements with 80 international agents and FX brokers from the UK, Europe and Russia.”
The SHN will act as the main platform for the properties, with developers being required to finance ‘Due Diligence Certificates’, ensuring that all of the required and necessary legal documentation is in order, being provided by highly reputable auditing firms.
José Manuel Luque, SHN’s managing director, said, “We’re trying to develop a new model of sales in the international market and address the main problems people have when buying in Spain, from lack of confidence to problems with finance.”
He added, “We have more relationships in Andalusia, and the regional government supports what we are doing but our ambition is national.”