Spanish Housing Back to Life.................
The year 2014 is set to come down to history as the pivotal point for the economy of Spain, heavily hit by the recession. After seven years of being a no-go, within twelve months, the country has transformed into the hottest market for large international funds and fortunes. Undoubtedly, the year belongs to Spanish REIT vehicles.
Known as Socimis, the vehicles were created to invest exclusively in rental assets, offering tax incentives and generous returns to their shareholders. Both arrival of funds and an amendment in the law regulating the trusts have contributed to favorable circumstances in which the Socimis could raise 2.56 million euros and spend 2.33 million of them year-to-date.
- See more at: http://www.auraree.com/real-estate-news/socimis-bring-spanish-housing-back-life/#sthash.AjyjxlJl.dpuf