bank of spain
November 19th, 2004
According to the Bank of Spain, foreigners bought almost 100,000 holiday homes in Spain last year, spending a record 7.2bn Euro.Foreign demand for a second or retirement home on the Spanish coast is still there, but there are signs that growth is starting to slow. New housing starts this year ...
Continue reading Growth in Spain starting to slow
July 27th, 2005
Estimates from the Bank of Spain state that house prices in Spain were overvalued by as much as 35 per cent last year, issuing warnings that the property market could fall victim to rising levels of household debt, and stressing that Spanish households are vulnerable to ‘certain macroeconomic or idiosyncratic ...
Continue reading Spanish Properties Overvalued?
April 5th, 2006
Higher interest rates have failed to dampen Spaniards’ desire to become property owners, new figures reveal.Mortgage loans rose 37.7 percent in the first month of the year, compared with January 2005.The European Central Bank raised its interest rate for the first time in December, with the second rate hike ...
Continue reading Interest Rate Hikes Fail to Cool Property Boom
April 13th, 2006
Half of all mortages are for more than 100% of the property price El Periodico de Catalunya reported that nearly half of all property buyers in Spain who request a loan, need to finance more than 100% of the value of the property, according to the fifth annual study ...
Continue reading Spanish Property Market News
May 25th, 2006
El Confidencial reported that between 2001 and 2004 in Madrid, house prices increased by 89%, while salaries only grew by 14.8%. These figures were presented by the trade union CCOO as part of a paper delivered on urbanism. The overall result of this growing disparity is ‘ever-increasing debt levels for ...
Continue reading Spanish Property News
June 14th, 2006
As the European Central Bank’s policymakers gather in Madrid today to consider another rise in interest rates, they will also get a chance to experience first hand the enduring paradox that is Spain’s buoyant economy.The bankers will fly over a sea of construction cranes before landing at the brand new, ...
Continue reading Spanish Bubble
August 11th, 2006
Prohibitive housing costs and inflexible financing opportunities make it increasingly difficult for young people in Spain to move out of their parents’ homes. Spanish institutions are considering unusually aggressive techniques to address the situation.It’s getting harder and harder for young people in Spain to leave their parents behind and purchase ...
Continue reading Financial Independence for Young Spaniards?
March 16th, 2007
Foreign real estate investment in the Valencian region has fallen by a thousand million euros since high profile protests about ‘land grab’ laws began in the region, according to a recent study by the Bank of Spain. Brenda Waddington of Spanish agent Rusticasa told the OPP that: “There has been an ...
Continue reading Land Grab Costs Valencia €1Bn
May 8th, 2007
Could you use another gin and tonic? Signs that the Spanish housing market is about to implode are jangling nerves among some Brits. A lot of previously smug owners of holiday homes, not to mention deeply tanned expats, are worried sick. Last week, shares in Astroc - a Valencian property developer ...
Continue reading Pain in Spain is Mainly on the Wane
June 11th, 2007
One of Spain’s largest providers of non-resident mortgages has stopped accepting applications after police raided a mortgage broker accused of providing it with false documents. Caja Mediterraneo (CAM Bank) has instructed its branches to ignore non-resident applications until the authorities finish investigating the actions of the Costa Blanca-based broker. The move ...
Continue reading Police investigation hits Spanish property
