Archives for April 2010
April 30th, 2010
The mayor of Marbella has unveiled her latest plans to reinvent the city – and property firms have given the thumbs up. Ángeles Muñoz asked local and foreign firms to join forces to promote investment and called for new ideas from the city’s business community. Announcing her “Open City” scheme at Marbella’s ...
Continue reading New Investment Plan to 'Reinvent' Marbella
April 29th, 2010
European authorities have seized on this week's airline crisis to fast-track their control of airspace, but they appear to have less interest in helping airlines pay the bills left by the volcanic ash cloud. European transport commissioner Siim Kallas will next week present recommendations learned from a week of aviation chaos, ...
Continue reading EU Ministers to Discuss United Airspace
April 28th, 2010
A new generation of British buyers are entering the overseas market – lured by cheap homes outside Europe. UK agent sales are up on this time last year, with more Brits choosing investment properties in locations such as Turkey and Egypt. But buyers who were putting off finding holiday homes during the ...
Continue reading Bargain Homes Attract New Wave of British Buyers
April 27th, 2010
Is it just me, or has recent news about the Spanish property market seemed a little more upbeat to you too? Coincidentally, this morning, I received a newsletter from Roy Williams - founder of an unconventional business school in Texas - which echo my own thoughts about optimism: "I detest the Positive ...
Continue reading Spanish Property Optimism in Perspective
April 27th, 2010
Murcia-based Polaris World, the biggest holiday home developer in Spain, last night reached a deal with its banking creditors just before a deadline that would have forced the company to seek court protection from its creditors. The sticking point that held up an agreement was how to value Polaris World’s ...
Continue reading Spanish Property Developer in Last Minute Reprieve
April 26th, 2010
The airport chaos as a result of the volcanic eruption in Iceland has resulted not only in huge losses for airlines but also for tourism destinations such as Spain. Spain’s tourism industry will lose 450 million euros in a week as a result of the delayed and cancelled flights to Spain ...
Continue reading Spain Loses €450 Million Euros in Volcano Crisis
April 23rd, 2010
The Spanish property market grew by 16% in February compared to the same month last year, according to the latest figures to be published by the country’s National Institute of Statistics. Not including social housing, there were 35,720 home sales in February, 21,368 of them newly built and 19,665 resales. According ...
Continue reading Spanish Property Market Showing Some Improvement
April 22nd, 2010
A number of Spanish local and regional authorities are backing an ambitious plan to help clear the backlog of unsold stock of Spanish property. The Spanish Homes Network (SHN) is a trading platform where international agents can source completed properties that have undergone legal due diligence by one of the big ...
Continue reading Scheme Approved to Clear Unsold Spanish Properties
April 21st, 2010
Spain is unlikely to be punished by markets this year despite soaring debt levels, but risks being stung in later years if deficit goals are missed as growth falters. The country is sometimes seen as one of the peripheral euro zone members that could be hit by a funding crisis like ...
Continue reading Spain Must Tread Carefully to Maintain Growth
April 20th, 2010
Over on our current affairs blog, representing the main real estate companies in Spain, Pedro Perez speaks about banks in Spain: ".. (the banks) continue to reduce the aggregate volume of mortgage finance, and although they have increased the number of mortgages granted, they are of smaller amounts and also amount ...
Continue reading German, French & Dutch Buyers Return to Spain
April 20th, 2010
Spanish property purchases were up by almost 19% in February compared with the same month last year, with 41,033 sale & purchase operations being recorded, consolidating the 2.1% increase recorded in January. The latest figures, released today by the National Institute of Statistics (INE) show the biggest increase so far during ...
Continue reading Upward Trend Continuing for Spanish House Sales
April 19th, 2010
Spain urged savings banks to continue their restructuring process on Wednesday and said it was essential that banks keep lending to businesses in order to stimulate the economy. A far-reaching overhaul of the system was necessary for the banking process to work, Economy Secretary Jose Manuel Campa said at a banking ...
Continue reading Spain Urges Banks to Keep Lending
April 16th, 2010
A surge of foreign lifestyle buyers and investors has split the Spanish property market. Sales are up 200% in some regions compared with 2009 - despite the Bank of Spain claiming that last year was the worst in a decade for foreign property investment in Spain. “Parts of Spain are doing really ...
Continue reading Spanish Sales Surge in Renewed Investor Confidence
April 15th, 2010
A price war for deposits between Spanish lenders could be the catalyst for mass failure of the country's struggling savings bank system, according to bankers and analysts. Troubles for the regional savings banks, or cajas, may even trigger sovereign debt problems in the eurozone's fourth-biggest economy. BBVA, Spain's number two private ...
Continue reading Spanish Banks Face Price War
April 14th, 2010
Buyers are back looking for holiday homes. Mortgage broker Conti Financial Services, which specialises in overseas mortgages, reports a big increase in mortgage applications and the busiest month for over a year. The foul winter in the UK has probably helped concentrate buyers’ minds on that place in the sun ...
Continue reading Holiday Home Bargains in Spain
