Business · Economy · 14 hrs ago

Talavera draws property buyers despite years of population decline

Talavera draws property buyers despite years of population decline

Talavera, in central Spain, is seeing strong demand for homes despite years of population loss.

A 101-square-metre flat in the city was listed for €124,900, and its estate agent said a similar home might have sold for half that price two and a half years earlier.

Some homes are reserved within hours of being advertised, according to the agent.

Investors are drawn by rental returns that one local agent estimates at 8%, compared with 4% in Madrid.

The city lost 5,300 residents over the past decade, and its unemployment rate was 20.8% in the figures cited.

The change shows how demand for homes can rise even in a city facing economic and demographic decline, but no next step is stated.

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What people are saying

Pedro ÁlvarezAP Homes co-owner
Today sometimes we put an ad up in the morning and by the afternoon it has already been reserved.
via El Confidencial
If you buy it and rent it out, you can get an 8% return, when in Madrid it is 4%.
via El Confidencial