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November 1st, 2004
Last month, Spain was singled out in the European Central Bank’s monthly bulletin as having the biggest residential property inflation in the euro area, with the country’s housing prices increasing at a rate nearly two-and-a-half times the euro-wide average in 2003.The ECB estimates the average increase in residential property prices ...
Continue reading Spanish house price rises highest in Europe
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
March 8th, 2007
Property expert Mark Stucklin analyses the state of the Spanish property market. Foreign investment in Spanish property hasn’t lived up to the optimistic forecasts of just a few years ago, when ‘experts’ predicted that Britons and other Europeans would increase spending every year. In reality, foreign investment in Spanish real estate ...
Continue reading Is Spain Europe's California?
March 23rd, 2007
Currency specialists believe the latest interest rate hike by the European Central Bank to 3.75% will negatively impact homebuyers with overseas mortgages. Amid fears of inflation Eurozone rates have risen to a five-and-a-half year high, from 3.5%. Nick Bull, marketing manager of Moneycorp, told OPP the move was widely expected by ...
Continue reading Latest Euro Rate Rise will Hurt Overseas Homeowners
June 27th, 2007
A new report from the Royal Institute of Chartered Surveyors (RICS) claims that housing markets across Europe have shown solid house-price inflation in spite of rising interest rates. RICS’ European Housing Review 2007 found that, while growth has slowed, it is still rewarding many investors with double digit growth. It also ...
Continue reading Solid European House Price Inflation
July 27th, 2007
Spain’s reliance on construction as an engine of growth poses a “major risk” to the country’s economic prospects as higher interest rates threaten to end a property-market boom, Standard & Poor’s said. “We consider this red-hot and unbalanced construction sector to be a major risk to the economy as a ...
Continue reading Spanish Reliance on Building is Serious Economic Risk
September 10th, 2007
Euribor – the interest rate most commonly used to calculate mortgage payments in Spain – rose again last month to 4.666% (to be confirmed by the Bank of Spain). This will push up the cost of financing a Spanish property purchase with a mortgage in Euros. There have now been 23 ...
Continue reading Spanish Mortgage News
October 4th, 2007
The Valencia property developer Llanera has become the first high-profile victim of the credit crunch in Spain, declaring insolvency yesterday after failing to meet payments on €748m of debt. The fashionable builder, known for its links to Charlton Athletic Football Club, was unable to reach agreement with Lehman Brothers and other ...
Continue reading Sub-prime Claims Spanish Developer
October 10th, 2007
THOUSANDS of British people with second homes abroad are the latest to face a payment shock following the global credit crunch, as lenders across Europe raise their rates and tighten up their criteria. British borrowers with euro mortgages, which have been popular in recent years because they have tended to be ...
Continue reading Loans shock on foreign homes
