Archives for August 2008
August 4th, 2008
Martinsa-Fadesa, one of Spain’s largest residential developer, not to mention largest ever business failure, has won a reprieve from its creditors after a judge in La Coruña accepted the company’s request for voluntary administration. But whilst Martinsa-Fadesa struggles on like a zombie, kept alive by the administration courts, stories are ...
Continue reading Developer Sold Properties Without Licences or Bank Guarantees
August 5th, 2008
A recent Sunday Express article attempts to place the doom and gloom surrounding the Spanish property market into context - without rose-tinted glasses - but also without the scaremongering and hype often present in the media coverage of Spain. In it they observe: "the glory days of double-your-money investments have ...
Continue reading Spain Can Reign Again
August 1st, 2008
A new report from the Spanish appraisal firm Tecnitasa reveals that the cheapest rental properties on the Spanish coast are located in the provinces of Lugo (Galicia), Tarragona (Catalonia), and Alicante (The Valencian Region). In all of these provinces you can rent an apartment looking onto the beach for less ...
Continue reading Cheap Holiday Rentals
August 6th, 2008
With its peaceful beaches and beautiful countryside, there's a lot more to Ibiza than you might think, says Laura Latham While Spain's property market is in the grips of a downturn, one Iberian location continues to draw the crowds. Ibiza is still partying, with a residential market that is not only ...
Continue reading Ibiza : Treasured island
August 7th, 2008
Spanish property prices have fallen by 30% since Spain’s economic downturn began last year, says Santiago Baena, president of the API real estate agents association (Colegios Oficiales de Agentes de la Propiedad Inmobiliaria). Speaking at a recent conference on Spain’s property crisis, and reported in the Spanish press, Baena said ...
Continue reading Spanish property prices have fallen by 30%
August 8th, 2008
An online debate amongst readers at the website of ‘El Pais’ - Spain’s leading daily – provides some insight into what the Spanish think about the country’s property and mortgage crisis. Many of the readers point the finger of blame at the banks and the government for inflating a property bubble ...
Continue reading Spaniards have their say on Spain’s property market malaise
August 11th, 2008
The Marbella town council has decided to start issuing licences of first occupation (licencias de primera ocupación) before the town’s new urban master plan gets final approval. First occupancy licences will be granted to owners of Marbella properties that are expected to be legalised by the new urban plan (Plan ...
Continue reading Marbella to issue first occupation licences
August 12th, 2008
A growing number of British buyers who have invested in homes in Spain are planning to take legal action against property developers who have gone out of business. According to reports on Telegraph.co.uk, lawyers specialising in property are noticing a surge in the number of British buyers contacting them for advice. Some ...
Continue reading Brits To Take Action Against Spanish Developers
August 13th, 2008
Morgan Stanley, the investment bank, has issued a major alert on the health of Spanish banks, warning that a replay of the ERM crisis in the early 1990s could wipe out the capital base of weak lenders exposed to the property crash. "A momentous economic slowdown is now under way. We ...
Continue reading Morgan Stanley issues alert on Spanish banks
August 14th, 2008
Increasing domestic demand for rental property boosts Spanish buy-to-let market, especially commercial areas and cities. It’s become a well-known fact that the traditional ‘fly-to-let’ rental market in Spain is suffering from over saturation. Coastal resorts are certainly as popular as ever, with Spain remaining one of the top holiday hotspots with ...
Continue reading Rental Demand Boosts Spain's Buy-To-Let Market
