residential mortgage
June 18th, 2007
Javier Usua and Ruth Graneda never got out of the car when they visited Sanchinarro and Las Tablas, two of Madrid’s biggest new suburban developments. The concrete-block buildings and empty streets were all they needed to see. “We came to look at apartments but found ghost towns,” said Usua, a ...
Continue reading Ghost Towns Appear As Boom Ends
March 18th, 2009
The RICS European Housing Review 2009 is commissioned and published by RICS (Royal Institution of Chartered Surveyors) which is the largest organisation for professionals in property, land, construction and related environmental issues worldwide. The Spanish property market slowdown intensified during 2008, though recorded prices in the two official indices surprisingly showed ...
Continue reading RICS 2009 European Housing Review
May 28th, 2009
A slight improvement in the monthly number of new mortgages sold in March has prompted optimists to call the bottom of the Spanish property market. Though the number of new mortgages signed in March fell 25.5% compared to the same time last year, the rate of decline appeared to slow ...
Continue reading Spanish Mortgage Double Whammy
July 16th, 2010
The owners of many of Spain’s developers used the boom to load their companies with debt whilst taking out capital, suggests a new report from the Spanish Savings Banks Foundation FUNCAS. That left developers ill-prepared for the downturn, which is turning out more severe as a result. Despite a decade of ...
Continue reading Indebted Developers Ill-Prepared for Downturn
August 9th, 2010
Euribor (12 months), the interest rate predominantly used to calculate mortgage payments in Spain, has now risen for 4 consecutive months to its highest level in just under a year. Euribor reached 1.373% in July, an increase of 7% on the previous month, and just 3% below July last year. This ...
Continue reading Spanish Mortgage Base Rates Rise in July
