In Good Faith or The Road to Hell is paved with good Intentions
With all the problems people are having with property in Spain, the amount of people using the defence that they bought in “good faith” is on the rise. But what does “good faith” actually mean? A little research produces the following definition:
Official Spanish House Price Index falls 3% in third quarter
Average Spanish property prices fell by 3% over 12 months to the end of the third quarter, according to Spain’s official House Price Index, published by the National Institute of Statistics (INE).
Spanish banks turning into property companies
Spanish banks are turning into some of the biggest real estate companies in Spain, just as they did during the last property crash of the late 80s and early 90s. To a greater or lesser extent, banks are running some of Spain’s biggest listed developers, companies like Colonial and Metrovacesa, who were forced to throw [...]
Glut of new Spanish homes will take market 2 years to digest
The glut of newly built homes on the market will take the market 2 and a half years to digest, according to data from the Institute of Construction Technology (Itec). With approximately 1 million new homes on the market, any property finished by developers in the next 2 and a half years will join Spain’s [...]
Ley de Costas causing “dramatic economic problems” for affected owners
Property owners in Spain who fall foul of the Ley de Costas, or Spanish coastal law, are suffering “dramatic economic problems” claims Carmen del Amo, president of national platform for those affected by the Ley de Costas (Plataforma Nacional de Afectados por la Ley de Costas).
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