Archives for May 2009
May 14th, 2009
Property professionals have welcomed the European Central Bank’s (ECB) interest rate cut, saying it could help to increase the availability of mortgages. However, they also admitted that the effect would be limited because European lenders’ rates aren’t directly tied to central interest levels.The ECB last week cut rates as expected ...
Continue reading Euro Interest Rates at All Time Low
May 13th, 2009
Sterling hurt by renewed gilt buy-backs; Monetary policy continues to relax; UK purchasing managers are more upbeat than most; US banks are not going bust just yet; Euro rates are lower and the ECB is buying Covered Bonds.A game of two halves saw sterling climb to €1.14 on Wednesday before ...
Continue reading Moneycorp: Euro Weekly Update
May 12th, 2009
If you already own a property in Spain and have let it out during the past five years, be sure to read UK Tax Break for Holiday Home Landlords in Spain. It may be that the Inland Revenue would like to give you some money.In Spanish State of the ...
Continue reading Soros, Swine flu and Spain
May 12th, 2009
Spain's prime minister will propose new economic stimulus measures and an anti-crisis pact in Tuesday's State of the Nation debate, ruling Socialist legislators said on Monday. Spanish leader Jose Luis Rodriguez Zapatero will press for extra benefit payments for the unemployed, a public spending boost and urge unions, employers and political ...
Continue reading Spanish State of the Nation
May 11th, 2009
European commercial property recovery not due till 2011 Falling rents puts potential European price rise on hold UK prices to fall 18 pct, rents to drop 11 pct in 2009 Spain to suffer strongest correction over next two years French, German markets to see milder repricing than Spain The decline in European commercial property capital ...
Continue reading European Commercial Property Predictions
May 8th, 2009
Many Britons who let out their second home in Spain could now be eligible for a tax rebate windfall from HM Revenue & Customs. From 6 April, 2010, furnished holiday lets in the UK will no longer be treated as business assets, against which owners can offset losses against their other ...
Continue reading UK Tax Break for Holiday Home Landlords in Spain
May 7th, 2009
The previous week's problems have been superseded by swine flu. UK purchasing managers are more positive than most. Euro interest rates are likely to go down to 1% this week; sterling base rates should remain at 0.5% Sterling opened last Monday at €1.1050 and spent the rest of the week at ...
Continue reading Moneycorp: Euro Weekly Update
May 6th, 2009
The number of people filing claims for unemployment benefits in Spain rose by 39,478 in April, the smallest increase in nine months but not yet a turning point for the ailing economy, the government reported Tuesday. The total of those seeking joblessness benefits is now at 3,644,880, up about 1 percent ...
Continue reading Spanish Unemployment Stabilising
May 5th, 2009
It’s no secret that the British are important players in Spain’s property market, but it may come as a shock to see quite how important. Having done some digging with new figures, it turns out that the British completely dominate the expat market for homes in Spain, much more so ...
Continue reading British Most Prolific Spanish Property Buyers
May 4th, 2009
Of all the European countries, Spain has in many ways been one of the most gravely affected by the global economic crisis. Even without the global recession, Spain would most likely be undergoing a correction this year due to its extremely overheated housing market. But it is facing a severe ...
Continue reading Spain: Europe's Canary in the Coalmine?
May 1st, 2009
Economy to begin recovery in 2010 after 3 percent decline in 2009 Housing correction will take time Banks holding up well but facing difficult market conditions The global economic crisis has hit Spain hard. Domestic demand is declining and job losses are mounting, driven by the downturn in construction. Confidence has declined because of ...
Continue reading IMF: Hard Landing for Spain
