Archives for October 2009
October 13th, 2009
If there's one thing you do this week, please make time to read the AIPP Guide to Buying Overseas Property Safely. View the AIPP guide online. If you are at all interested in buying property in Spain or elsewhere, it really is essential reading. Here's an idea of what you'll find inside ...
Continue reading A Strange Article About Spanish Property
October 13th, 2009
The institution, which released the first part of its report on global financial stability, also stressed that Spain has practiced a system of "dynamic" provisions that has enabled banks to build up "large stocks" The IMF forecasts that Spain will be one of the European economies that recorded a higher rate ...
Continue reading IMF: High Level of Bad Debt in Spain
October 12th, 2009
House prices were overvalued by as much as 37% in 2007, at the height of the real estate boom, argues a new report from Jiménez de Laiglesia, a real estate consultancy based in Valencia. Property prices must come down to return the market to balance, but despite recent declines, prices are ...
Continue reading Spanish Property Prices: More Reductions to Come
October 9th, 2009
Spain does not see any need to buy assets from banks in 2010, Economy Minister Elena Salgado said on Tuesday. '...in 2010 it will not be necessary to acquire financial assets. The government spent 30 billion euros on this in 2009 but this will not have to continue in 2010,' Salgado ...
Continue reading Larger Spanish Banks Healthy in 2010
October 8th, 2009
Spain's current account deficit fell to 2.064 billion euros in July from 7.752 billion euros a year earlier as imports tumbled, according to the latest Bank of Spain data. This is a very sharp and dramatic fall, and my guess is that at this rate the gap will close in six ...
Continue reading Spain's Current Account Deficit
October 8th, 2009
The International Monetary Fund warned Spain faces trouble ahead because of high fiscal deficits, low competitiveness and rising unemployment as its recession drags on into 2010. "We expect some fairly tight conditions to prevail in Spain for some time," Ajai Chopra, deputy head of the IMF's European department, told reporters in ...
Continue reading IMF Warning on Spanish Economy
October 7th, 2009
The Association of International Property Professionals (AIPP) has released the 4th edition of its annual guide, Buying Overseas Property Safely – The Consumer Guide from the Industry Body. View the AIPP Guide onlineor download the pdf (3.7Mb). As the step-by-step manual of how to avoid common pitfalls and buy overseas safely, it's ...
Continue reading AIPP Guide to Buying Overseas Property Safely
October 6th, 2009
In Spanish Economy Showing Signs of Recovery, the Bank of Spain attempts to make soothing noises about various negative indicators slowing down. However, those indicators are still worsening and Edward Hugh concludes by calling for Spanish president Zapatero to be replaced by someone with a more pragmatic and commercial ...
Continue reading Six Years of Spanish Property
October 6th, 2009
Maria Jose Lozano, a civil servant from Madrid, left a recent property fair empty-handed after discovering that home prices were still out of reach in a market where sales have dropped 50 percent from their 2006 peak. “We came here expecting to find a bargain, or at the very least some ...
Continue reading More Pain as Spanish Banks Avoid Property Losses
October 5th, 2009
Spanish economy activity is contracting at a slower pace in the second quarter of this year than the previous quarter. Spain's recession-hit economy is showing signs of steadying, but recent improvements in consumer spending have faltered, said the Bank of Spain. "The most recent indicators show an overall slowdown in the ...
Continue reading Spanish Economy Showing Signs of Recovery
October 3rd, 2009
Spanish house prices fell at a record rate on the year in the second quarter and economists said prices are unlikely to have hit bottom due to massive stocks and expectations of a prolonged recession. House prices plunged 7.7 percent year on year in the second quarter, official data showed on ...
Continue reading Spanish Property Prices Not Yet at Bottom
October 2nd, 2009
Spanish property prices fell by 7.7% over 12 months to the end of the second quarter, according to the latest Spanish property price index published by Spain’s National Institute of Statistics (INE). If true, it suggests that property prices might be starting to bottom out. New build prices continued on ...
Continue reading Spanish Property Prices Down 7.7% Q2 2009
October 2nd, 2009
There has been a substantial increase in landlords in Spain experiencing problems with bad tenants and the eviction process due to ‘pirate tourism’ according to Paragon Advance España. The company, which is part of the Paragon Advance group which offers tenant referencing and rent warranty in Spain, says research shows that ...
Continue reading New Protection for Landlords in Spain
October 1st, 2009
Spanish Prime Minister Jose Luis Rodriguez Zapatero on Monday accused business leaders of selfishly arguing for easier rules on firing workers in a sign of a growing breach between the Socialist government and companies. In an interview with Cadena Ser radio, Zapatero said he would not give into pressure from "the ...
Continue reading Zapatero: Conflict With Spanish Businesses
