Spanish Property News Roundup
July 27th, 2010
There are a couple of interesting articles from the Overseas Property Professional (OPP) magazine this week.
The grim sounding, Spanish Banks Not Helping Property Recovery masks a cheery message:
We keep telling the banks that there is nothing wrong with the concept of Spain and that north European buyers will come back, but not until they start controlling their price discounts properly.
It seems absurd that this would need pointing out to the banks, but I do believe that there are foreign buyers waiting to buy Spanish property – when the price is right, and not before.
In the second OPP article, SHN Aims to Boost Confidence of Home Buyers and Agents, we read some positive news from Spanish Homes Network.
I applaud any effort to make the process of buying a property in Spain less fearful and more transparent. If these properties really do come with an iron-clad guarantee of legality from the REGIONAL (not local) authorities, then that’s about as good as it gets. I hope SHN succeed in their goal of “offering greater reassurance” to overseas buyers.
And, for another piece of good news: Investors Predict Spain Will Benefit from Stress Tests. The Euro already seems to be regaining some of the ground it lost against Sterling recently, and this article predicts that Spain’s banks may well be in better shape than some of her European neighbours.
News Flash – it seems so, read more about how Spanish banks fared on our current affairs blog.
Even the news that Spain to Cancel €6.4 Billion of Projects to Slash Deficit has its sunny side. I think it bodes well for the Spanish economy that its government is finally willing to make the tough decisions: Presumably because that’s better than facing the alternative.
It was good to see so many comments on last week’s article entitled: Despite Property Glut, There Are Few Real Bargains.
Our policy on publishing comments is very similar that on publishing articles: If they make an interesting point, and are not blatantly offensive, we publish them. While I don’t (personally) agree with all of the points made in every article or the views expressed in every comment, I think it’s important that you can read them all.
Meanwhile, over on our current affairs blog, these articles may be of interest to you:
Finally, over on our company blog, I’ve been thinking about the implications of consumer trends on the overseas property industry.
I’ll be considering 17 trend in total, six are already done, and I’ll be completing the remainder over the next couple of weeks. This is mainly an exercise in me thinking out loud as we decide how Kyero should evolve in the future, but please do post your comments or thoughts.
Martin Dell, Kyero.com