Archives for November 2008

November 28th, 2008

UK house builder Taylor Woodrow de España has partnered with accreditation scheme Safe Buying Experience (SBE) to help ensure purchasers in Spain are offered a safe and secure process. This partnership provides a double reassurance to buyers as they are now guaranteed a quality home complete with independent endorsement as to ...

Continue reading A Safer Buying Experience in Spain

November 28th, 2008

Aifos, a holiday home developer based in Marbella, has been forced into receivership by one of its creditors , the Spanish press reports. The company is reported to have 850 million Euros of debt, which would make it one of the biggest developers to date to go into administration, after Martinsa-Fadesa ...

Continue reading Developer Aifos in Receivership

November 27th, 2008

Spanish third quarter house sales fell 30.5 percent year on year, steepening a fall begun earlier in the year amid chronic oversupply and credit restrictions, according to a recent report. Spain's College of Registrars recorded 130,884 house transactions between July and September, down 8.6 percent from the previous 3 months, according ...

Continue reading Spanish Property Sales Down by 30%

November 26th, 2008

More than half of the countries in Knight Frank’s Global House Price Index posted a drop in prices in the third quarter, according to a recent report. Overall global prices dropped 0.3 percent in the quarter, the first decline in the history of the index, a popular barometer of the ...

Continue reading Pervasive Property Problems

November 25th, 2008

The world famous La Manga Club resort in Murcia, a popular destination with celebrity footballers from Real Madrid and Manchester United, has been forced to seek protection from its creditors. One of Spain’s flagship holiday and residential resorts, La Manga Club is the first Spanish resort of its calibre to ...

Continue reading Problems at La Manga Club

November 24th, 2008

Sales of holiday homes on the Costa del Sol have collapsed to levels last seen back in 1983, according to a recent article at the Spanish consumer website consumer.es. Based on figures provided by Jose Prado, President of the Malaga Association of Constructors and Developers (ACP), the article reveals just 2,500 ...

Continue reading Spanish Property Rewinds to 1983

November 21st, 2008

Spain's economy contracted for the first time since 1993 in the third quarter, official data showed on this week, and analysts were surprised by how fast a housing slump is sapping consumer spending. For a decade the euro zone's star, Spain could now turn into its underperformer as it faces a ...

Continue reading Spain Underperformer in Euro Zone

November 20th, 2008

The inventory of newly built Spanish homes languishing on the market in search of a buyer rose by 20% in the first 6 months of the year, according to a recent article in the Spanish daily ‘El Pais. Most of the unsold homes are located on the Spanish coast and ...

Continue reading Spanish Glut of New Builds Rises by 20%

November 19th, 2008

Bad weather is the top reason Brits want to emigrate from the UK and Australia is their preferred destination, according to new research from savings bank Alliance and Leicester International (ALI). It found that 60% of retired British expats rate good weather as the factor which sets their new country of ...

Continue reading Brits Move Abroad for Better Weather

November 18th, 2008

Time is running out for Britons affected by the collapse of another Spanish property developer to put forward their claim for recompense, warns law firm DWF. The firm says that buyers affected by the collapse of Compañía Inmobiliaria Masdevallia should inform the Spanish court as soon as possible, or appoint a ...

Continue reading Time to Claim: Masdevallia in Administration

November 17th, 2008

Spanish property prices need to fall by 23% to bring housing affordability back to its long term average, and return the market to normality, argues a new report out today from property consultants Aguirre Newman. The report asks how much average Spanish property prices have to fall to bring the cost ...

Continue reading Spanish Property Prices Must Fall by 23%

November 14th, 2008

The following is a transcript of a letter just sent by Dan Thorneycroft, a British resident of Andalucia, to Manuel Chaves, president of the Junta (regional government) of Andalucia. Thorneycroft is one of many retired British home owners in the El Fas district of Cantoria, Almeria, who are living under ...

Continue reading For the Attention of the President of Andalucia ..

November 13th, 2008

Spanish house prices dropped 6.5 percent in October from a year earlier, the eighth consecutive month of declines as a property sector slump deepened. The fall follows a decline of 4.9 percent in September, property surveyor group Tinsa said. Statistics on Spanish property prices vary greatly, with the Housing Ministry reporting ...

Continue reading October 2008: Spanish Property Prices Drop 6.5% YoY

November 12th, 2008

Spain last month drafted new regulation that would permit the creation of real estate investment trusts. The motive behind the establishment of Sociedades Cotizadas de Inversion en el Mercado Immobiliario, or Reits, is to help revive the country’s residential real estate market, which has stalled over the past 12 months ...

Continue reading Spain Regulate for Property Revival

November 11th, 2008

This week, I've selected a handful of news stories, each with something positive to say about the Spanish property market. It's not that the credit crisis and property overhang have been magically resolved - it's just that there's no new news on those subjects. My favourite article is 20 Ways to ...

Continue reading Andrés Segovia & Other Good News