Archives for November 2009
November 2nd, 2009
Spain's economy shrank further in the third quarter new data revealed Thursday, making it the only large European economy along with Britain to remain in recession as the US also returns to growth. The economy shrank 0.4 percent between July and September from the previous three months, its sixth straight quarterly ...
Continue reading Spain & Britain Stuck in Recession
November 3rd, 2009
Spanish gross domestic product contracted again in the third quarter as the recession, sparked by the global financial crisis and the housing sector collapse, dragged on. Spain's GDP shrank 0.4 percent quarter-on-quarter in the June to September period after a drop of 1.1 percent in the second quarter, the fifth consecutive ...
Continue reading Bank of Spain: Foreign Exchange Rates Key to Recovery
November 3rd, 2009
Making sense of Spanish property related articles in the news this week. In Bank of Spain: Foreign Exchange Rates Key to Recovery, the Bank of Spain says that a recovering US economy bodes well for Spain's export industry IF foreign exchange rates don't mess things up. Thanks to the economic might of ...
Continue reading Spanish Property News Roundup 3rd November 2009
November 4th, 2009
A spectre is haunting Europe, but this time it is not the spectre of revolt by the popular masses, or even one of yet another wave of bank bailouts. No, the spectre which is currently stalking the corridors of Europe's most prestigous institutions is one of a Spanish economy which ...
Continue reading Spanish Spectre Haunting Europe
November 5th, 2009
Sterling's resilience shines through. Have we all forgotten the previous week's appalling UK third quarter GDP performance? Following the previous Friday's dismal UK GDP figure, there was every reason to suspect the pound would have to face the full force of economic law and aggressive selling from worried FX traders ...
Continue reading Moneycorp: Sterling's Resilience Shines Through
November 6th, 2009
The latest figures for planning approvals show that for the residential construction sector there is still plenty of bad news out there. Bank of Spain to double provisions in move that may drive property prices down. The depressing news for anyone who makes a living building homes in Spain is that ...
Continue reading Spanish Property Swings & Roundabouts
November 9th, 2009
The developer behind the Trampolin Hills Golf Resort in the Spanish province of Murcia has been forced into bankruptcy proceedings unable to pays its debts, according to reports in the local press. Administrators have been appointed to run the company, and creditors now have a month to register their claims. Trampolin ...
Continue reading Trampolin Hills Developer in Administration
November 10th, 2009
The government of Andalucia, or Junta, announced yesterday a subsidy of 1 billion Euros to help liquidate the region’s property glut estimated at around 70,000 newly-built homes. Like the ‘cash-for-clunkers’ programme used to subsidise car sales, public money will now be showered on house-hunters in Andalucia. But second home buyers can ...
Continue reading Andalucia: Billion Euro Subsidy for Home Buyers
November 10th, 2009
Once again, Edward Hugh has written compellingly about how Spain is under-performing compared to the rest of Europe. It's a long and detailed article, but Spanish Spectre Haunting Europe is well worth the effort. If you have purchased property in Murcia at Trampolin Hills, you will no doubt already be aware of ...
Continue reading Kyero: One Million Spanish Properties
November 11th, 2009
No interest rate change from Bank of England, FOMC or the ECB. Sterling shrugs off £25 billion of additional QE measures. UK data had less influence on currency levels during last week, with the main focus on how much the Bank of England (BoE) would expand its existing quantitative easing (QE) ...
Continue reading Moneycorp: Stalemate for Sterling
