"DEXTER, as a financial manager and intermediary, is providing developer loans to entrepreneurs who are looking for private capital for speed".
Far from some isolated pessimistic forecasts, real estate is still going through a great period in Spain in the first half of 2023. In particular, and in certain Autonomous Communities, it is clearly driven by the sales and purchases being made by foreign residents.
This is the case of the Canary Islands, where they are signing one out of every four operations. In fact, the islands are the region with the second largest share of property sales to foreigners, which in 2022 accounted for almost 29% of assets, a figure only surpassed by the Balearic Islands, where it now stands at 34%.
The non-residents who sign for the purchases are Europeans who intend to spend long periods in properties with swimming pools paying high community fees, a typology that does not fit the buying pattern of a Canarian resident. On the other hand, the use of the Golden Visa - a permit with which one can obtain residency if they buy for a minimum value of 500,000 euros - is limited in the islands.
DEXTERas a financial manager and intermediary, is providing developer loans to entrepreneurs who turn to private equity for speed, agility and business opportunities, seeking a way of financing outside the slower pace and the walls that traditional banking sometimes erects.
The company's CEO, Yeidy Ramirez, points out that "The Canary Islands are one of the Autonomous Communities in which we are betting the most on growth in 2023. We will shortly be making an official public presentation to builders and developers who are relying on alternative financing and to whom we will provide our instruments (products and services) so that they can carry out their real estate projects, mainly residential".concluded the first executive of DEXTER.
