Archives for June 2008

June 30th, 2008

Spain's economic decline is quickly turning into a political crisis for prime minister José Luis Rodríguez Zapatero, who has been called before the national Congress next week to explain what he plans to do about it. In a move with few precedents, all the country's political parties – except Mr Zapatero's ...

Continue reading Zapatero Explains Housing Slowdown

June 27th, 2008

Spanish house sales fell 7.1 percent year-on-year in April to 55,802 units after a 39 percent fall in March, the National Statistics Institute (INE) reported on Thursday. Government data also showed a 13.8 percent year-on-year fall in April house mortgage lending to 12.24 billion euros ($19.2 billion), following a 42 percent ...

Continue reading Spain house sales fall 7.1 pct in April

June 26th, 2008

As part of the Marbella council’s Tourist Marketing Plan to attract more ‘mid-high spending’ tourists and improve the region’s image abroad, the local government has approved its application to tender for a PR/communications agency to work to this end. According to Jose Luis Hernandez, tourism councillor of Marbella, the PR initiative ...

Continue reading Marbella Council turns to PR agencies

June 25th, 2008

Hundreds of Brits have joined forces to bring a class action against the Spanish Government in a bid to reclaim an estimated £86m in overpaid capital gains tax (CGT). This is Money reported back in April that Britons who sold a Spanish property between between June 2004 and December 2006 could ...

Continue reading Spain Owes Brits £86M

June 24th, 2008

In an article which we didn't have time to translate or rewrite, developers in Valencia region mount an attack against the AUN for publicising the human rights abuses perpetrated under the region's Land Grab laws. The title of this week's story, Greenpeace Blamed for La Manga Deluge, tells you all you ...

Continue reading Squeaky-clean Tree-hugging Planet-saving Developers in Spain

June 24th, 2008

Only 489 homes started across the province in the last four months showing the extent of the construction slowdown in Spain. The extent of the real estate and construction slowdown in Alicante is evident from the latest figures which show only 489 homes were started across the province during the first ...

Continue reading Construction Slows In Alicante

June 23rd, 2008

Everything changes when you leave the Costa del Sol at the Straits of Gibraltar and travel round the coast to Costa de la Luz. Development stops, the beaches empty and the countryside takes on a Peak District-like ruggedness. It is made even more beautiful by the bright light that characterises ...

Continue reading Buying Costa de la Luz Property

June 20th, 2008

Average rents in Spain rose by 4.3% over 12 months to the end of May. With consumer prices rising by 4.6% over the same period, this means that the cost of renting property in Spain has fallen in real terms by 0.3%. Average rents rose the most in Cantabria (6.5%), Aragon ...

Continue reading Rents Increase Less than Inflation

June 19th, 2008

A group of property developers in La Manga del Mar Menor (Murcia) are demanding that the environmental organisation Greenpeace pay them more than 20 million Euros in compensation for sinking the local property market and causing “prices to plunge by up to 50%”. The developers accuse Greenpeace of unduly scaring buyers ...

Continue reading Greenpeace Blamed for La Manga Deluge

June 18th, 2008

One of Spain’s last untouched landscapes, the Sierra de Gata in north-western Extremadura, may shortly be inundated with up to 19 wind farms. Ecologists are increasingly concerned about the impact these “parques eólicos” may have on the varied wildlife of the region – and, not least, on its pristine landscapes. Currently, ...

Continue reading Wind Farm Blight on Sierra de Gata?

June 17th, 2008

What does Spain's high-speed-train system (AVE) have to do with the housing market, and why did I include an article about it this week? The short answer is that all major infrastructure investments in Spain have a long term impact on the economy of the country and the value of its ...

Continue reading Spain's Trains & Property Deals

June 17th, 2008

The bad news is that if you don’t board the AVE, Spain’s high-speed train, two minutes before departure, the doors close and it will leave without you. Mildly irritating, too, is the electronic security procedure, which can take as much as 60 seconds to complete. All this means that, to ...

Continue reading Spain's Trains on Speed

June 16th, 2008

Although the economy is slowing down in Spain the high-end of the housing market remains unaffected. With the economy slowing, unemployment rising and house prices falling, many people are currently put off buying real estate in Spain. But according to the website Expatica.com, while house sales have plunged in the middle and ...

Continue reading Top End of Market Buoyant in Spain

June 13th, 2008

In keeping with the fashion for bad news, the last few days have seen the release of 3 gloomy reports on the Spanish property market, painting a picture of falling prices, negative equity, and general real estate sector misery. Presenting its annual report on the economy, the Spanish business school ESADE ...

Continue reading Spanish Property Market Blues

June 12th, 2008

Rocketing fuel and food costs pushed Spanish year-on-year inflation to a 13-year high of 4.6 percent in May, compounding a severe economic slowdown and raising expectations of higher than forecast euro zone inflation. Spanish consumer price inflation rose from 4.2 percent in April and analysts expected it to soar as high ...

Continue reading Spanish Inflation Fears