Justified Optimism in Spain?
June 9th, 2009
This week’s Spanish property news could almost pass for pure unbridled optimism.
Good news for the innocent buyers of illegal property in Marbella. In Costa del Sol Bargains: Soon to be Legalised we learn that their properties will be legalised rather than demolished.
Of course, the people who should be footing the bill for this are the corrupt ex-town-hall officials who granted property licences knowing they would be overturned by regional or coastal officials.
Instead, it appears that the developers involved will have to pay their debt of shame by ceding building land to the town hall.
Certainly the developers won’t have been squeaky clean in the whole debacle, but it seems a little harsh to lumber them with total responsibility. Either way, at least the truly innocent parties, the buyers, can now see light at the end of the tunnel.
The cheery tone of Spanish Unemployment Trend Reversing belies the fact that although the rate of growth in unemployment numbers is slowing, the actual number is still growing.
However, this slow down is a necessary part of decreasing the number of unemployed in Spain. Let’s hope that the trend continues.
It seems that Spaniards are feeling a little more optimistic in general. In Spain: Consumer Confidence at 13 Month High we learn that the majority of Spanish households expect the economy to improve within six months.
I’m not sure how much hard data there is to support such a warm and fuzzy feeling, but if talking about recession and doom and gloom is a self-fulfilling prophecy, let’s hope that the same is true of a more sunnier outlook, regardless of the ‘data’.
Finally, in Spanish Banks: Property Repossession Top Ten, Mark Stucklin does a good job of summarising what’s going on in the world of Bank repossessed property in Spain.
Martin Dell, Kyero.com
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