Archives for January 2011
January 31st, 2011
Spain's socialist government has struck a deal with the country's trade unions to raise the age of retirement. All parties have agreed that the compulsory retirement age will increase from 65 to 67, one of the highest in Europe. A final, marathon discussion ran into the early hours of Friday morning. The deal ...
Continue reading Spain Strikes Deal Over Raising of Retirement Age
January 29th, 2011
Each day, we record the popularity of every Spanish property advertised on Kyero. We measure how fresh and complete the advert is, and how visitors interact with it. This week, thousands of new properties were advertised on Kyero.com. Here's this week's top Spanish properties - as voted by you. Properties priced under €250,000 €95,000Playa Flamenca, ...
Continue reading Top Spanish Properties This Week on Kyero
January 28th, 2011
CAM Bank (Caja Mediterraneo), Spain’s fifth-largest financial institution, is selling large numbers of repossessed properties to UK and Russian buyers and seeing success with its rent-to-buy programme. Speaking exclusively to OPP this week, CAM’s international commercial director Alfredo Milla said “the rent-to-buy product is fairly new and innovative from our point ...
Continue reading Rent-to-Buy Scheme Proving Popular, Says CAM Bank
January 27th, 2011
Spain's tourist industry rebounded last year from the economic crisis that has battered the key sector, with the number of foreign visitors edging up by one per cent, the government has said. Although down by 6.5 per cent to 12.5 million, Britons represented the largest tourist group making up 23.6 per ...
Continue reading Foreign Visitors to Spain on the Increase
January 26th, 2011
A recent court ruling in Spain has offered a lifeline to overseas property buyers fighting to get back “lost” deposits from the country’s banks. As investors continue to battle to get back deposits paid on non-existent overseas homes, a Cantabrian judge has ruled that a bank (Caja Cantabria) responsible for protecting ...
Continue reading Spanish Court Backs Investors Over Lost Deposits
January 25th, 2011
The big Spanish news stories in the last week have centred around the restructuring of Spain’s smaller savings banks – the Cajas. The exact amount of funding required to recapitalise these banks is not yet known, but even the most pessimistic estimate of €100bn (the general view is a more realistic ...
Continue reading Recapitalisation of Spanish Building Societies 'Affordable'
January 25th, 2011
While major Spanish banks like Santander or BBVA can comfortably cope with their bad real estate loans, there are fears that some cajas may not be able to. Spain is to partially nationalise its weakest savings banks, or cajas, amid concern about the impact bad loans to building developers may have ...
Continue reading Spain Plans Partial Nationalisation of Savings Banks
January 25th, 2011
Spain Plans Partial Nationalisation of Savings Banks Fund Sufficient to Cover Potential Bailouts, Says Chief Top Spanish Properties This Week on Kyero Spanish Cajas Campaign to Attract Asian Investors Unemployment Woes Deter Spanish Home Buyers Big Business Still Thriving in Spain Similar to last week, the big Spanish news stories in the last week have centred ...
Continue reading Property Pulse Issue 309 – 25th January, 2011
January 24th, 2011
Europe's bailout fund has enough money to cover potential rescues of both Portugal and much larger Spain, while Greece doesn't need a debt restructuring as some investors fear, the head of the fund insisted Thursday. European officials are contemplating whether and how to overhaul the euro750 billion ($1 trillion) fund, which ...
Continue reading Fund Sufficient to Cover Potential Bailouts, Says Chief
January 22nd, 2011
Each day, we record the popularity of every Spanish property advertised on Kyero. We measure how fresh and complete the advert is, and how visitors interact with it. This week, thousands of new properties were advertised on Kyero.com. Here's this week's top Spanish properties - as voted by you. Properties priced under €250,000 €49,000Torrevieja, Alicante ...
Continue reading Top Spanish Properties This Week on Kyero
January 21st, 2011
Spain's regional savings banks are planning a March road show to Asia to drum up investor interest, having failed as yet to strike any private sector deals, savings bank sector sources told Reuters on Tuesday. The latest attempt to attract private capital into the unlisted savings banks, or 'cajas', follows similar ...
Continue reading Spanish Cajas Campaign to Attract Asian Investors
January 20th, 2011
Spanish home sales decreased for a third month in November over concerns about domestic unemployment and the outlook for the nation’s economy. Home transactions fell 6.2 percent from a year earlier, after a 17.7 percent drop the previous month, the National Statistics Institute said today in an e-mailed statement from Madrid. ...
Continue reading Unemployment Woes Deter Spanish Home Buyers
January 19th, 2011
The cloud of uncertainty hovering over Spain's economy doesn't make an ideal backdrop for mergers and acquisitions. But that hasn't stopped many of the country's blue-chip companies from striking big, and in some cases bold, acquisitions abroad in recent months. The relatively strong deal environment in Spain comes in a time ...
Continue reading Big Business Still Thriving in Spain
January 18th, 2011
In this week’s news, there are signs that we could be close to resolving the question marks over a key part of the Spanish economy. The Spanish government is attempting to lay its cards on the table and demonstrate, once and for all, the solvency of its banking system. Doubts over the ...
Continue reading Spain Grabs the Bull by the Horns
January 18th, 2011
Spanish lender Banco Español de Crédito SA reported weak fourth-quarter results Thursday, as it took further steps to clean up its loan book in the wake of the housing boom. Net profit at Spain's fourth-largest listed bank stood at €9.5 million ($12.5 million), up slightly from €6.2 million a year earlier, ...
Continue reading Banesto Performance Hit by Housing Slump
