• GDP Will Rise to 2.9% and Unemployment Will Drop to 22.2% in 2015

    The Savings Banks Foundation (Funcas) forecast panel has raised by three tenths, to 2.9%, its growth forecast for Spain for this year, and estimates it will stand at 2.7% in 2016, one tenth more than calculated previously. The improvement in …

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  • Bankia Launches End of Year Campaign with Big Housing Discounts

    Bankia, the Spanish banking conglomerate formed in December 2010 by consolidating the operations of seven regional savings banks, announced in a press release last week the launch of their Christmas campaign, where they are offering a total of 6,000 homes …

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  • SIMed to Offer Homes from 25,000 Euros

    SIMed Opportunities (Salón Inmobiliario del Mediterráneo) opens its doors today at the Trade Fair and Congress Centre of Malaga (FYCMA) with a wide range of real estate offers in the province of Málaga and in the north of Morocco, which …

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  • Banking Delinquencies Mark New Record in July

    The arrears of loans granted by banks, savings banks, cooperatives and credit institutions (EFC) to individuals and companies, climbed to 11.9% in July, up three points from the previous month, marking a new record since the Bank of Spain began …

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  • Funcas Improves Forecasts for Economic Recovery

    In a recent announcement, reported in El Mundo, the Foundation of Savings Banks (Funcas) predicted that the Spanish economy will contract by 1.5% this year and grow by 0.7% in 2014, which is one- and two-tenths percentage points more, respectively, …

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  • Mortgages Mark New Low in March After Falling by 34.1%

    According to figures released on Tuesday by the National Statistics Institute, the number of mortgages on homes reached a new low in March, dropping by 34.1% over the same month of 2012, to stand at 16,270 transactions. The annual decline …

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  • Home Mortgages Fell by 7.5% in February

    The number of new mortgages on homes stood at 24,197 in February, representing a drop of 7.5% compared with the same month of 2012, according to figures released last Wednesday by the National Statistics Institute. The annual decline in February, …

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  • Home Mortgages Fell 14.4% in October

    According to the latest figures released by the National Statistics Institute, the number of new mortgages on homes in October this year totalled 19,105, which is down 14.4% compared to the same month of 2011. With October’s year-on-year decline, home …

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  • New Mortgages Fell 32.2% in September

    The number of new mortgages contracted for house purchases in September fell 32.2% compared to the same month of 2011, reaching 21,195 transactions. This latest figure marks 29 consecutive months of declines and a sharpened pace of decline, which in …

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  • New Mortgages Fell by 28.5% in August

    The number of new mortgages granted on homes stood at 21,106 in August. This is the lowest figure since the comparable historical series began in 2003 and, according to the National Statistics Institute, represents a decrease of 28.5% year-on-year. This …

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  • New Mortgages Down 17.5% Year-on-Year

    The number of new mortgages contracted on homes in July of this year totalled 24,291, which is a drop of 17.5% compared to the same month of 2011, according to figures released on Friday by the National Statistics Institute. Including …

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  • Home Mortgages Fell 25.2% in June

    The number of new mortgages on homes totalled 24,321 in June this year, which is a drop of 25.2% from the same month of 2011, according to figures released by the National Statistics Institute on Monday. The explanation: people who …

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  • Medications Bring Inflation to Highest Level of the Year

    Annual inflation has risen three-tenths in July, to 2.2%, mainly due to the higher prices of medicines and other pharmaceuticals, taking it to its highest level of the year, pending the implementation of the VAT increase in September. According to …

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  • Residential Mortgages Fell 30.5% Year-on-Year in May

    According to data released yesterday by the National Statistics Institute, the number of mortgages contracted on residential property in May stood at 26,007, representing a fall of 30.5% over the previous year. Together with the annual decline in May, the …

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  • Cajas Closures Will Leave 4.8 Million Spanish Without Local Branch

    The General Workers’ Union (UGT) has complained that the restructuring of the savings banks will leave 4.8 million people with no bank branch in their area. The union estimates that 2,656 villages, which at present only have savings banks, will …

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