The Latest Spanish Property News from Kyero.com

Just as speculation about the health of the banking system in the U.S. seems to be quieting down, there's reason to believe that foreign banks - particularly two Spanish institutions - are about to go under the microscope, even as the pair snaps up assets in foreign countries.

The global economy is starting to bottom out from the worst recession and financial crisis since the Great Depression.

The problem that many Britons are facing is that the high value of the euro in relation to the pound has eroded the benefits that they could otherwise have gained from the falling Spanish property market.

According to an article in the Spanish newspaper, Expansion, one in five Spanish mortgages is now considered as being high risk and liable to become "non performing".

MPC minutes raise spectre of further quantitative easing. UK public borrowing much higher than expected in July. Appreciable improvement in Euroland PMIs.

Economic analyst Variant Perception has accused Spanish banks of hiding losses and predict its economy will become like the economy of Japan in the nineties.

Nowhere in Europe has more bargain-basement holiday homes. Yet in spite of falls of between 30% and 50% in some areas, many Britons appear to be waiting to see if prices fall further before the pain in Spain ends.

Jon Hunt, the Foxtons estate agency founder who picked the top of the housing boom in 2007, says he believes the 18-month property slump is close to an end.

Renewed nervousness about sterling. Bank of England still gloomy about the outlook. Britain falls behind in the economic stakes. Germany and France pulled out of recession in Q2.

Housing formed the epicentre of the global financial crisis. It was a fall in residential prices that shook and cracked the banking system. News that housing markets are starting to level out is cheering.

Spain's services sector fell into more severe contraction in July, with activity and new orders declining at faster rates than the month before, according to the Markit Purchasing Managers' index.

When private property is cheaper than social housing you know that something is wrong. That appears to be the case in parts of Catalonia like Barcelona, where private property is now often cheaper than social housing, reports the Spanish daily El Pais

The number of businesses and individuals filing for bankruptcy in Spain reached a record 3,285 in the first half of this year, or triple the figure in the same period in 2008.

Eurozone inflation has fallen deeper into negative territory, according to official data that suggests risks of deflation remain in spite of the region’s improved growth prospects.

Spanish property prices fell by 9.2% over 12 months to the end of July, according to the latest Spanish property price index published by Tinsa, one of Spain’s leading appraisal companies.

Smaller than expected US job losses sent the euro down. UK economic data were generally good but the pound suffered after the MPC announcement.

Just as investors pluck up the courage to once again dip a toe in the Mediterranean housing market, along comes a killer flu pandemic that keeps bargain-hunting foreigners thousands of miles from a purchase.

Spanish banks have been doing their best to shield themselves from the bursting of the country’s property bubble. By buying properties before the loans on them go bad, lenders can mask their worst bets.

Spain's Santander, the eurozone's largest bank, reported a first-half net profit of EUR 4.51 billion, down 4.5 percent from last year.

Spain's real estate investment trusts will do little to attract foreign investors or soothe its catatonic property sector before an expected economic rally in 2011, even if they do help detoxify distressed banks.

Spain's central government, which has boosted spending to fight a severe recession, said Tuesday its budget deficit soared to 3.64 percent of gross domestic product during the first half of the year.

Sterling better on improved risk appetite. Nationwide reports a third successive monthly rise for house prices. Sterling close to eight-month high against the euro.

The AUAN group (Action 4 Almanzora) comment on bitterly disappointing moves by the local authority to sort out the problem of illegally built homes around the town of Albox, in the Almanzora region of Almeria, Andalucia.

Is any property below €50,000 a cheap Spanish property? Are cheap Spanish properties only to be found at auction or as bank repossessions? How much below market value does a Spanish property need to be to be considered cheap?