Archives for November 2009
November 30th, 2009
Demonised by agents for keeping prices artificially high to avoid losses, or making it harder for agents to access distressed deals, many now feel that Spanish banks must become better estate agents if the market is to recover. Ian Waudby, chairman of investment consultancy Crest Group International, observes that the companies ...
Continue reading Spanish Banks Should be Better 'Estate Agents'
November 27th, 2009
The market for new homes is on the road to a mild recovery, claims the G-14 group of Spain’s leading developers. Sales of newly built homes will continue “consolidating in the coming months” said Pedro Pérez, head of the G-14. There is some basis for the developer’s optimism in the latest ...
Continue reading 'Mild' Recovery of the Spanish Property Market
November 26th, 2009
Mikel Echavarren, head of Irea, a Spanish real estate consultancy, talking about the state of the real estate sector in Spain. As an experienced professional in touch with many different companies in the sector it is worth listening to what he has to say. Here is a selection of comments from ...
Continue reading Spanish Property Recovery Already Underway?
November 26th, 2009
First signs of Bank of England optimism dented by public borrowing. ECB hints at an end to 'extraordinary' liquidity measures. For the first couple of days the market was comparatively enthusiastic about sterling. It climbed from €1.1150 €1.1300. It failed to get any further and on Wednesday set off downwards. It ...
Continue reading Moneycorp: Sterling Starts Well But Falters
November 25th, 2009
Up to 90,000 Britons who have sold a holiday home in Spain in the past 12 years could be owed thousands of pounds by the Spanish tax authority. During that time, the price of holiday homes in Spain enjoyed a huge boom, with prices peaking in 2007. But while the locals paid ...
Continue reading Spanish CGT Tax Rebate Stretched Back to 1997
November 24th, 2009
The technical end to recession in Europe makes both Spain and the UK look a little sick, although it also represents an opportunity for Spanish growth. If the country also deals with the systematic corruption of its Town Halls - maybe there really are blue skies ahead? The big news ...
Continue reading Blue Skies Ahead for Spanish Property?
November 24th, 2009
Something is stirring in Mallorca's property market. The overall market still looks depressed, but look a bit closer and you find that the quality segment is coming back to life. A window of opportunity has opened up for buyers who want the best at a reasonable price. That window won't ...
Continue reading Mallorca – a Taste of Things to Come in Spain
November 23rd, 2009
Once a star performer in Europe's 11-year old monetary union, Spain has become the wayward laggard. Growth data last week showed the Spanish economy - hit badly by a property market collapse and soaring unemployment - stuck firmly in recession in the third quarter, while the eurozone as a whole ...
Continue reading European Recovery is the Best News for Spain
November 20th, 2009
After 15 years, Spaniards are finally seeing the rampant corruption beneath all the uncontrollable property speculation. Fifteen years of frenzied real estate speculation in Spain is being replaced by a wave of political corruption that is angering many Spaniards already suffering from the economic crisis. "After getting drunk on speculation, we are ...
Continue reading Finally, Spain Wakes up to Corruption Hangover
November 19th, 2009
Europe's deepest recession since World War II officially ended when the world's biggest single trading bloc joined Japan and the United States in returning to growth. Both the 16-nation eurozone and the 27-nation European Union as a whole, home to half a billion people, posted growth -- of 0.4 percent in ...
Continue reading Recession Ends Across Europe
November 18th, 2009
Poor trade figures and positive UK house prices have equally little effect on the pound. Euroland data positive but not positive enough. Another two cent range, almost identical to the previous week's, held the pound and the euro in close step. A net half cent loss for sterling left it at ...
Continue reading Moneycorp: Sterling & Euro in Limbo
November 18th, 2009
Spanish prices dropped for the eighth straight month in October, official data confirmed, falling at the slowest rate since April amid base effects from energy prices. Spain's consumer price index fell 0.7 percent year on year in October in line with a Reuters poll and compared to a 1 percent slide ...
Continue reading Spain: Deflation Concerns Subsiding
November 17th, 2009
A mixed bag of cheery items from this week's news - each affecting the Spanish property market. In a month's time, A Place in the Sun will be holding an auction for 60 lots of key-ready properties on the Costa Blanca, Costa del Sol and Costa Calida. They will be discounted by ...
Continue reading Spanish Property Auctions, Flights & Wind Power
November 17th, 2009
Christmas will come early to the overseas property market when hugely discounted Spanish properties come under the gavel on Sunday 13th December 2009 at the A Place in the Sun Spanish Property Auction. The auction, which will take place at London’s Radisson SAS Portman Hotel W1, will see around 60 lots ...
Continue reading Spanish Property Auction: December 13th 2009
November 16th, 2009
Spanish Economy Minister is satisfied the GDP is contracting at a slower pace and expects things to pick up in the next quarter. Spain's economy contracted in the third quarter, although at a slower pace than in previous quarters, official data showed Thursday, contrasting with a return to growth elsewhere in ...
Continue reading Spanish Economy Minister: Contraction Slowing
