• Spaniards Still Hoarding 1,659 Million Euros in Pesetas

    According to data from the Bank of Spain, as at May this year a total of 1,659 million euros in pesetas still remain unredeemed, which is the equivalent of 276,034 million pesetas, of which 856 million euros (142,426 million pesetas) …

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  • Mortgage Default Rate for Home Purchase Falls to 5.8%

    The latest data published by the Bank of Spain reveals that the default rate of mortgage loans for the purchase of housing fell to 5.8% in March, in the same way that the rate for developer and real estate sector …

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  • Financial Effort to Buy a Home at Sustainable Levels

    One of the variables most commonly used to work out the accessibility of housing is the calculation of the property price over the available household gross income. In a monthly report entitled the “Real Estate Thermometer”, published by La Caixa …

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  • Spain One of the EU Countries Where Private Consumption Will Rise in 2015

    Following years of declines, private consumption in Spain is now recovering and is forecast to grow by 2.7% in 2015, compared with the 2.3% growth registered the previous year which, according to a study carried out by the Institute of …

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  • Household Debt Falls to 2006 Levels in January

    The level of Spanish households’ debt fell in January by 2,943 million euros, compared with the month of December, to 745,414 million euros, according to the latest data from the Bank of Spain, which represents a month-on-month decline of 0.39% …

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  • Spanish Banks Introduce American-Style Mortgages

    In a bid to convince potential homebuyers to change their customs, and at the same time increase their own revenues from loans, some Spanish banks are now offering American-style fixed rate mortgages with repayment periods of up to 30 years. …

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  • Spanish Tourism Sector Grew by 2.9% in 2014

    In their January report, the Alliance for Tourism Excellence (Exceltur) estimated that the activity of the Spanish tourism sector increased by 2.9% in 2014, and generated 53,200 jobs. The Executive Vice President of the organisation, José Luis Zoreda, stressed during …

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  • Family Wealth Fell in Q3 for First Time Since 2012

    The latest data released from the Bank of Spain reveals that the net financial wealth of Spanish families reached 1,134,131 million euros in the third quarter of 2014, which represents a decrease of 0.17% compared to the previous quarter, and …

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  • December 2020 Deadline for Redeeming Pesetas

    Spaniards have until 31st December 2020 to redeem the 1,664 million euros which they still hold in coins and banknotes of the old Spanish peseta currency. According to provisional data published earlier this week by the Bank of Spain, at …

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  • Household Debt Registers Fourth Consecutive Monthly Decline in October

    The latest data from the Bank of Spain shows that household debt fell again in October for the fourth consecutive month, and stood at 753,407 million euros, its lowest level since October 2006, demonstrating the debt elimination process Spanish households …

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  • Bank of Spain Notes ‘Timid Spikes’ in Housing Prices

    The Bank of Spain’s latest Financial Stability Report, the institution’s six-monthly publication which analyses the evolution of the risk, solvency and profitability of deposit institutions, finds that the adjustment in the Spanish property market is nearing its completion, and even …

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  • Bankinter Optimistic Over Housing Recovery in Spain

      According to Bankinter, signs of stabilisation are beginning to become apparent in the Spanish housing market: the demand for housing is growing compared to 2013, the fall in prices has slowed considerably, and the economic environment will continue to …

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  • Spanish Household Debt in May at Lowest Level Since 2006

    The household debt in Spain fell again in May, for the sixth consecutive month, and stood at 769,535 million euros, its lowest level since November 2006, according to the Bank of Spain’s data, which confirms the reduction of the debt …

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  • Citi Believes House Prices Will Fall by Further 5% to 10%

    Analysts at the Citigroup Research Service estimate that housing prices in Spain could still fall by an additional 5% to 10%, pointing to at least another year of declines before prices reach their minimum levels, and at the same time …

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  • Spanish Household Debt Fell by 5.3% in April

    The balance of Spanish household debt stood at 771,604 million euros in April, representing a decrease of 5.3% compared to the same month last year (814,626 million euros) and also a drop of 2,719 million (0.3%) over March when it …

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