property assets
June 28th, 2007
Concerned that negative media reports of last week’s stock market slide have focused on only one aspect of the Spanish property market, Chris Mann of Hacienda del Alamo said: “Some people are doing their best to talk the Spanish property industry into a crash but their arguments are built on ...
Continue reading Spain – More than One Property Market
September 3rd, 2008
Spanish property group Colonial, which is struggling under huge debts, reported a €2.38bn (£1.9bn) first-half loss as the value of its assets tumbled. The net loss compared with a profit of €316m a year earlier, as Spain's decade-long property boom ended. Colonial has written down the value of assets, including €800m for ...
Continue reading Spanish Property Group Loses €2bn
February 5th, 2009
Spain's banks have withstood the financial crisis better than their European peers, but their uniquely high provisions against bad debts will start to run dry unless the economy improves next year. As big names in U.S. and European banking have buckled, Spanish banks have so far withstood defaults from failing property ...
Continue reading Spanish Banks Better – But Still Vulnerable
March 4th, 2009
Spanish banks are returning to property ownership to avoid loading more bad loans on to their balance sheets but the strategy is risky and unlikely to be as profitable as their real estate buying spree 15 years ago. Spain's eight biggest banks last year formed or resurrected property wings that have ...
Continue reading Spanish Banks Delay Impact of Bad Debts
July 23rd, 2009
After struggling to find a buyer for her renovated two- bedroom apartment in Madrid for two years, Arancha Ibarra found a tenant for 750 euros ($1,066) a month, becoming one of the 1.5 million second-home owners thrust onto the country’s rental market. The number of properties for rent in Spain climbed ...
Continue reading Most Spanish Rental Property Since 1950's
February 26th, 2010
The Bank of Spain is expected to increase the provisions it demands of Spanish lenders to cover property bought from struggling real estate developers. The central bank’s move would further dent bank profits already hit by economic recession, according to financial sources and bank analysts. In November, the central bank raised its ...
Continue reading Spanish Banks Face Higher Provisions
June 8th, 2010
Newspapers are predicting falls in property prices in both the UK and Spain as more housing stock comes on stream and demand is hit by rising interest rates. The Telegraph asks “Is the holiday over for the property market?” and cites case studies of amateur investors planning to sell up ...
Continue reading Media Predicts Property Price Drops for UK and Spain
July 2nd, 2010
Apparently now is a great time to buy Spanish property as the banks once again play games with their balance sheets. When the financial crises struck the Spanish property market, the banks avoided making massive write-downs by converting the loan assets into hard assets - the homes the loans were ...
Continue reading Pick up a Bargain Property as Banks Offload Assets
