Archives for May 2012

May 31st, 2012

The unemployment rate of under 34 year olds has tripled since the crisis began, rising from 10.8% in the third quarter of 2007 to 33% in the first quarter of this year. This means that currently one-in-three young people under 34 who is willing and able to work, are unemployed. This ...

Continue reading 33% of Under 34 Year Olds Unemployed

May 31st, 2012

According to the leading indicator on the evolution of prices in Spain, published on Wednesday by the National Statistics Institute, the Consumer Price Index cut its year-on-year rate by two-tenths in May to 1.9%. This drop in prices in the fifth month of the year, comes after the increase in April ...

Continue reading Inflation Down Due to Cheaper Food and Fuel

May 30th, 2012

In its May economic bulletin, the Bank of Spain notes that they expect the Spanish economy to continue in recession in the second quarter. The watchdog said that, although the available indicators are still low, the activity in Spain will fall between April and June. On private consumption, they point out ...

Continue reading Bank of Spain Expects Economic Decline to Continue in Q2

May 30th, 2012

According to the Tourist Expenditure Survey (EGATUR), drafted by the Institute for Tourism Studies of the Ministry of Industry, Energy and Tourism, inbound tourists to Spain spent a total of just over 13 billion euros in the period from January to April 2012. This is 3.5% more than in the ...

Continue reading Tourists Spend Over 13 Billion Euros Between January and April 2012

May 30th, 2012

This morning Kyero.com was down for almost four hours between 23:13 and 03:00 GMT. What started as a routine data centre maintenance task of testing their power back ups went wrong and left us stranded. We'll be having strong words with them about their poor performance - but we could and should ...

Continue reading Data Centre Problem Post-Mortem

May 29th, 2012

The railway network company, Renfe, are looking at providing access and travel on AVE and middle distance trains via tickets carried on smartphone devices from this summer, according to company sources. When introduced, users of smartphones will be able to access these trains without printing their ticket, but by just using ...

Continue reading Renfe to Introduce Smartphone Train ‘Tickets’ this Summer

May 29th, 2012

According to a recent real estate analysis carried out by Deloitte, Spanish households spend 39.4% of their income on mortgage payments, despite the fall in house prices in recent years. A fact that explains why the 'stock' of unsold new homes is not being absorbed at the speed desired by ...

Continue reading Mortgage Sucks 39% of Spanish Family Income

May 29th, 2012

Economic Effort to Buy Property Still High for Spanish Families Homes Sales up 21.9% Over Last Quarter of 2011 Top Spanish Properties This Week on Kyero Number of Mortgages Down 42% Year-on-Year 2012 Will Be Last of Crisis for Spain, Says Garcia-Legaz Government Has No Plans to Increase VAT in Tourism Sector In this week’s property ...

Continue reading Property Pulse Issue 379 – 29th May, 2012

May 28th, 2012

On Friday the social network Facebook launched a mobile photo application to edit and publish images on its platform, a service which is already provided by the popular Instagram, the company which Facebook bought less than two months ago for 1,000 million dollars. The application, Facebook Camera, is free and initially ...

Continue reading Facebook Launches Photo App that Competes with Instagram

May 28th, 2012

According to statistics from the College of Property Registrars released on Friday, home sales fell by 26% in the first three months of the year, over the same period last year, but increased by 21.9% over the last quarter of 2011. The number of transactions recorded in the first quarter is ...

Continue reading Homes Sales up 21.9% Over Last Quarter of 2011

May 26th, 2012

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 €29,995 Torrevieja, Alicante 2 ...

Continue reading Top Spanish Properties This Week on Kyero

May 25th, 2012

The President of the European Central Bank (ECB), Mario Draghi, believes that Europe needs to take a leap towards greater political integration in order to convince investors about the future of the monetary union. El Economista reported that during his speech, the president of the ECB said that the "extraordinary measures" ...

Continue reading A Bold Leap Towards Political Integration Needed, Says Draghi

May 25th, 2012

According to figures released yesterday by the National Statistics Institute, the number of mortgages granted on homes in March this year totalled 24,918, marking one of the lowest figures in the series, with a drop of 42% over the same month of 2011. Including the year-on-year decline in March, mortgaged homes ...

Continue reading Number of Mortgages Down 42% Year-on-Year

May 24th, 2012

According to the latest data from the National Statistics Institute, Spanish hotels only had a 49.9% occupancy rate in April, which was 5.6% less than the same period of 2011, and despite the fact that this year Easter was celebrated in this month. In total there were 21.5 million overnight stays ...

Continue reading Hotel Occupancy Down in April Despite Easter

May 24th, 2012

The Spanish Secretary of State for Trade, Jaime García-Legaz, said yesterday that there is "light at the end of the tunnel" and that 2012 will be "the last year of crisis" in Spain. He also said that if the Government raises VAT then, at the same time, it will lower ...

Continue reading 2012 Will Be “Last of Crisis” for Spain, Says García-Legaz