eurozone
April 21st, 2005
Despite a decade of strong performance and rising living standards, further economic reform is needed and a housing boom poses risks, an OECD report warned.The Organisation for Economic Cooperation and Development said the Spanish economy is heading for growth of 2.7 percent this year and 3.0 percent in 2006, the ...
Continue reading Housing boom threatens to cool Spanish economy
June 1st, 2006
From Bordeaux to Barcelona and Budapest to Bulgaria, British holidaymakers in their thousands are falling for foreign second homes.Buying abroad has gained momentum in recent years, as homeowners dream of retiring in the sun or investing in countries with profit potential. Some 250,000 Britons own a property outside the UK.But ...
Continue reading Borrow for a Second Place in the Sun
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
September 1st, 2006
Fears of a Spanish property crash have increased, prompting a sell-off in real estate shares and fanning concerns that thousands of Britons will lose money. The sell-off was triggered by worries of rising bad debts and speculation that one large company had been buying its own properties to keep prices high. ...
Continue reading Spain hit by property crash fears
November 21st, 2006
BRITONS thinking of buying a place in the Sun should think twice: La Caixa, the Spanish savings bank, says that Spain’s decade-long housing boom has peaked and is on its way down. Money is still flooding into Spain’s febrile construction sector, but “everything appears to indicate that the long expansive ...
Continue reading Building Industry Slowdown Sparks Fear
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
August 30th, 2007
Have you recently moved to Spain? If so, have you reviewed your financial planning to take your new circumstances into account? Your saving and investment structures should be specifically chosen to suit with your current circumstances and aims for your future. Now that your situation has changed, ...
Continue reading Reviewing your financial planning on arrival in Spain
September 6th, 2007
The cost of a Spanish home has doubled in the past five years. House prices in Spain have risen at a faster pace than anywhere else in the eurozone over the past five years, outstripping even a strong UK market, figures showed today. Research by mortgage lender Halifax found the cost of ...
Continue reading Spain and UK lead Euro property boom
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
