Sales down 29% last year reveals Property Register
The Spanish property market shrank by 29% in 2008 reveal the latest figures from Spain’s Property Register, released in a report yesterday. There were a total of 561,500 home sales last year, compared to 788,500 the year before. Sales of new properties fell 13% to 296,400, and resales fell 41% to 265,000. On a quarterly [...]
Spanish property investment gone wrong turns out good in the end
This personal account of a Spanish property investment gone wrong was sent in by email for publication. Though a thoroughly unpleasant experience for the investor, he ended up making money, and doing vastly better than he would have with his money tied up in a blue-chip British banking stock like, say, RBS, or even in [...]
2009 Marbella Property Market Report
An up-to-date report on how the worldwide economic crisis is affecting the property market in Spain’s most important resort city. By Christopher Clover, owner and Managing Director of Panorama, Marbella’s longest established Real Estate Agency February, 2009 Before the critical events of September 2008 and the following months, the property market in Marbella was suffering [...]
Costa Brava holiday lettings fall 60%
Tourist rental occupancy rates on the Costa Brava have fallen “drastically” over the last 4 months, according to the Tourist Apartments Association of Girona Province (ATA). Josep Comaposada, President of ATA, says that bookings of holiday properties on the coast were down 60% over weekends and public holidays in January. “We were used to very [...]
Mortgage lenders keen to avoid repossessions
There was an article this weekend in the Spanish daily ‘El Mundo’ about the lengths Spanish mortgage lenders are going to avoid repossession. Repayment holidays, refinancing deals at 125% LTVs, and converting mortgages into rental contracts are just some of the solutions that banks are resorting to. The article also contained some mortgage market data [...]
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