Archives for May 2008
May 15th, 2008
Jeff Greensmith of FINCAS direct had some great information about the property market in Catalonia in response to our Spanish Bad Guys, Part 2 article. Here’s his update on the situation in Catalonia: The lack of coordination between Catastro and Registro de la Propiedad definitely strikes a chord: how many ...
Continue reading New Catalonia Housing Law
May 14th, 2008
Data recently released by the Spanish Ministry of Housing for 2007 reveals that the market slowed by at least 11% in 2007 compared to the previous year. The total Euro value of property transactions fell from €159 Billion in 2006 to €142 Billion in 2007. 2005 % +/- 2006 % +/- 2007 % +/- Q1 €27.3B +22.9% €37.4B +37.2% €38.9B +4.0% Q2 €34.9B +22.9% €41.5B +18.9% €39.7B -4.2% Q3 €31.9B +23.4 €36.8B +15.6 €31.9B -13.5% Q4 €37.9B +24.4% €42.9B +13.1% €31.3B -27.0% Total €132B +23.5% €159B +20.3% €142B -10.6% The year-on-year ...
Continue reading Spanish Government Data Conceals Scope of Downturn
May 13th, 2008
Last week I asked Who are the bad guys in Spain? This week, two news articles provide the answer. The tedious account of a meeting in Planning Abuse in Almeria reveals a partial list of things wrong with the property market in Spain: No regulated steps for conveyancing No registration, supervision or compulsory ...
Continue reading Bad Guys – Part Two
May 13th, 2008
Minister for Tax and the Economy, Pedro Solbes, told the Economy and Tax Commission in Congress that he is against intervention to halt the adjustment in the market. Solbes, has said that he is against doing anything to halt the adjustment of ‘the excesses’ of the construction industry which had ...
Continue reading Real Estate Market Must Correct Itself
May 12th, 2008
The Canary Islands offer spectacular views thanks to the small size of each island and their volcanic, mountainous terrain. Imagine the view from the coast of one island – looking out over the sea to another. Corralejo is on the southernmost tip of Fuerteventura. Two miles north-east lies the tiny island ...
Continue reading Your Room With a View?
May 12th, 2008
The average price of a flat in London is worth the same as two Spanish villas, according to new figures. According to A Place in the Sun Live, a typical London apartment costs almost £304,000. This means Londoners may want to consider moving abroad top get more for their money. For the ...
Continue reading 1 London Flat = 2 Spanish Villas
May 9th, 2008
Owners of rental accommodation in Spain are set to benefit from the launch of new flights from the UK. LTE International Airways will begin offering flights to Norwich International Airport from Alicante, Palma and Barcelona in July. This is a significant development for consumers who live in the Norfolk region, as it ...
Continue reading Norwich to Spain Takes Off
May 8th, 2008
On the 3rd May last, a meeting to discuss planning abuse problems in Almeria was held at the Best Hotel in Marina de la Torre, Mojacar , which almost 400 people attended. The meeting was chaired by Lennox Napier of the political party Cuidadanos Europeos de Mojacar, and was organised with ...
Continue reading Planning Abuse in Almeria
May 7th, 2008
Britons are heading for the Spanish island of Lanzarote in record numbers. Figures released from the Spanish airport operators, AENA and Cabildo de Lanzarote, show that the number of UK visitors to the resort rose by 8.7% during the first three months of the year. While an early Easter will have bumped ...
Continue reading Brits Fuel Lanzarote Property Market
May 6th, 2008
Remember last week we reported on an article entitled 40% Discounts in Catalunya? We made contact with the developers in question but they're swamped with enquiries at the moment - so there's no immediate prospect of those properties appearing on Kyero.com. If you're interested in learning more, these are their ...
Continue reading Who Are the Bad Guys in Spain?
May 6th, 2008
Catral's town hall states that 1,300 illegal properties in the municipality will no longer be demolished. The municipality of Catral is one of the most popular places for Brits to own a second home or to relocate to on the Costa Blanca. However, this fact means it has also attracted the attention ...
Continue reading Costa Blanca to End Building Stress
May 5th, 2008
Expats who are as fed up with Britain's pension regime as they are with the weather can now take their funds with them and never have to buy an annuity thanks to new rules on overseas pensions. Many of the 400,000 Britons who move abroad each year can now pack ...
Continue reading Exportable Pensions
May 2nd, 2008
The promoters and builders’ association of spain (APCE) showed willingness to make sacrifices and lower housing prices if the government gives them help and adopts their suggestions for reactivating the real estate market. Among their requests is the creation of a new category of housing somewhere between de-regulated and subsidised, more ...
Continue reading APCE Adopt G14 Tactics
May 1st, 2008
The Spanish Instituto Nacional de Estadistica (INE), or National Statistics Institute, has published the findings of its research into the Spanish property market and revealed that property transfers across the country fell by 14.1% y-o-y in February and 9.1% on January’s figures. In terms of total transactions, or ‘merchanting’ as ...
Continue reading Spanish Property Transfers Fall 14%
