Archives for January 2010
January 15th, 2010
Accelerating decline in Spanish private sector services activity in December raised fears of renewed recession on the Iberian peninsula, a well-watched survey said on Wednesday. "It is worrying to see Spain showing signs of a double dip' recession and lagging so far behind the other large euro area service economies," said ...
Continue reading Spanish Economy: Double Dip Danger
January 14th, 2010
Two more regional Spanish savings banks, Caja Duero and Caja Espana, agreed to merge on Monday, Spanish news reports said, as the pace of consolidation in the sector gathers pace amid the country's recession. The two banks, both based in the northern region of Castilla y Leon, reached the deal late ...
Continue reading More Savings Bank Mergers in Spain
January 13th, 2010
The likelihood of a defeat for Labour is positive for the pound. Euro zone economic data are uninspiring but not harmful to the euro. Monday's €1.1250 opening proved to be too rich for sterling's blood and it quickly began to retreat. It traded below €1.11 on Tuesday, rebounded to €1.12 on ...
Continue reading Politics Drives Sterling
January 13th, 2010
Travel search site Skyscanner reveals the top 50 most searched for destinations from UK airports for travel in 2010. In the top spot is Malaga, moving up one place from last year. Tenerife and Alicante are second and third, meaning Spain takes the top three positions. Palma comes in 8th, losing one ...
Continue reading Spain Most Popular Destination for Brits
January 12th, 2010
Last week I mentioned that 2010 had started briskly for Kyero.com. Comparing the first week of 2010 with that of 2009, we've seen substantial increases across all metrics. Overall page views up by 46% Unique visitors up by 63% Property page views up by 47% Property enquiries up by 34% Clicks to estate agent ...
Continue reading Spanish Property Popularity Rising – Why?
January 12th, 2010
2010 is going to be the most exciting one real estate investors have seen in a decade. I’ve got my eye on diverse opportunities around the globe, each of which represents an excellent value play. In Europe, projects and banks are in deep trouble. The resulting financial distress has created pockets ...
Continue reading Spain: One of the Best Real Estate Investments in 2010
January 11th, 2010
The Bank of Spain has found indicators of improved activity in the fourth quarter. They believe that consumption indicators eased their retreat in October and highlights that car registrations stepped up their advance in November. However, the bank still believe that the data about the evolution of the activity is still ...
Continue reading Bank of Spain: Improved Q4 Indicators for Economy
January 8th, 2010
Never before has Europe’s monetary union seemed so fragile as some in Europe fear that Greece or another weak country might default on its sovereign debt obligations, threatening monetary union. Day by day, fears are growing that Greece or another weak country may default on its sovereign debt obligations, forcing the ...
Continue reading Worst Not Over Yet For Europe
January 7th, 2010
Like everyone else in Spain, I have just received, from a UK relative, a cutting from the Daily Telegraph entitled: ‘Expats threaten a villa “siege” as Spanish serve demolition orders’. This headline is enough to send shivers of fear down any Spanish property owner’s back. In fact, this story concerns some ...
Continue reading Another Nail in the Coffin for Spanish Property?
January 7th, 2010
Spanish resort group Polaris World is in talks with lenders to avoid filing for bankruptcy protection. Fifteen of Polaris World’s subsidiaries – around half the group – are thought to be insolvent, including four resorts, two hotels and a number of construction, sales and service companies. Details of the company’s situation ...
Continue reading Polaris World Close to Insolvency
January 6th, 2010
Something’s wrong with the Spanish property market, writes S. McCoy in a recent article at Cotizalia.com, a financial news website. His analysis points towards a big and desirable fall in house prices – up to 50% by 2011 says McCoy. However, there is no sign of this in the “imaginary” ...
Continue reading The Real McCoy on Spanish House Prices
January 5th, 2010
Anyone interested in property in Andalucía, or Spain for that matter, should read this annual report on the market by Barbara Wood of The Property Finders, a buyer’s agent. It turns out the quality end of the market is alive and well and delivering great opportunities for buyers. I totally agree ...
Continue reading 2010: A Lively Start for Spanish Property
January 5th, 2010
Spain's government will present an austerity plan by the end of January to help cut the public deficit to 3 percent of gross domestic product by 2013, Prime Minister Jose Luis Rodriguez Zapatero said on Wednesday. Spain's public deficit is expected to reach 9.5 percent of GDP this year and the ...
Continue reading Spanish PM Promises Austerity in 2010
January 4th, 2010
Generally speaking, Spanish property prices have fallen by less than you would expect given Spain’s economic crisis, high unemployment, and monumental housing glut (especially holiday homes on the coast). I say generally speaking, because some people who have done their homework and have funds in place ready to pounce are finding ...
Continue reading Spanish Property Not Priced to Sell – Yet
January 1st, 2010
Any hint that Spain’s horror stories would fade into the past were ruined last week, when three British expats in Almeria were served with demolition orders for their homes. In total, eight homes in the town of Albox may be facing the wrecking ball, according to media reports. Throughout Spain, municipalities ...
Continue reading 2010: Pain in Spain Continues
